VZ inflation accelerating

Crisis-wracked Venezuela's yearly inflation rate rose to over 4,000 percent in July, the opposition-controlled parliament said on Wednesday.

Inflation over the last 12 months dipped to 3,500 percent in June from almost 3,700 percent the previous month, but it is back on the increase.

The National Assembly has been releasing inflation figures since 2017 due to a lack of data from the government of President Nicolas Maduro.

July's inflation was 55 percent, up from the 19.5 percent in June, opposition legislator Alfonso Marquina said.

Venezuela is in the midst of the worst economic crisis in its history after seven years of recession.

AFP