Thursday, March 29, 2018

The Cafe Con Leche Index: Venezuelan Price Inflation Hits 6567%

This is what happens when super aggressive money printing, totalitarianism and socialism meet.

Bloomberg reports:
We called it the Bloomberg Cafe Con Leche Index, and as the name would suggest, it tracks just one item: a cup of coffee served piping hot at a bakery in eastern Caracas. Its price has jumped to 120,000 bolivars* from 1,800 bolivars over the past 12 months, an increase of 6,567 percent.
-Robert Wenzel 

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