Venezuela's inflation hits 33.7 percent in July

Via the International Herald Tribune:

Venezuela's annual inflation has reached 33.7 percent in July in metropolitan Caracas.

Economist Abelardo Daza says inflation soared in the last 12 months largely thanks to a financial tax introduced last November.

He says May's elimination of the tax helped monthly price increases slow to 1.9 percent in July — down from 2.4 percent in June....MORE

Umm, that's still compounding along at 25%/annum.

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