Do you hear the footsteps of Venezuelan inflation?
Dr. Hossein Abdeh Tabrizi warns that if we continue on this path, we will face 50% inflation next year unless policymakers take urgent action and address the main cause of currency price increases, and consequently, the general price level. Ignoring this puts the entire society at risk of experiencing even more uncontrolled inflation rates.
Let’s not forget the experience of Venezuela. For years, they had inflation rates similar to ours, around 24%, which suddenly jumped to 63% in 2014. Prices didn’t stop there; the following year it reached 120%, in 2016 it was 250%, and the year after that, prices exploded and increased by several thousand percent.