Venezuela June inflation soars to 40pc

Venezuela’s June inflation slowed from the previous month to 4.7 per cent, the central bank said, but the annualised rate soared to 39.6 per cent following a currency devaluation and heavy state spending last year.

The annualised figure tops all the yearly inflation rates since 2008, when the central bank changed its inflation methodology and consumer prices rose 30.9 per cent.

via Business feed http://www.scmp.com/business/economy/article/1279406/venezuela-june-inflation-soars-40pc