Inflation has begun to slow down a bit in Venezuela, for the first time in five years.
It actually dipped a little below one million percent.
But this not good news. Read below to find out why.
From PanAm Times
The economy of Venezuela, which gets more and more unstable, recorded an inflation slowdown for the first time in five years. Although it might look like good news, it actually reveals a dark picture of the reality that Venezuelans are living.
An inflation slowdown, in the case of Venezuela, does not mean that the economy is improving. On the contrary, it shows that Venezuelans do not have the adequate purchasing power to buy food and essential services. The control of the regime is profound.
Statistics from the National Assembly, which has an opposition majority, reveal that inflation in Venezuela decreased in May while prices increased by 31.3% on average. The interannual variability was 815,194%. The South American country continues to have the highest inflation rate in the world.