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Venezuela's inflation reaches a massive 2,600 per cent

Venezuela's opposition-controlled legislature said on Monday that inflation in the economically struggling nation reached a staggering 2,600 per cent last year.
 
The figures underline the problems besetting Venezuela, where food, medicines and other basic goods are in extremely short supply. 
 
There have been recent instances of looting reported across the country.
 
Venezuela sits atop the world's largest oil reserves, but low production by the state oil monopoly and the global drop in crude prices has thrown the Latin American country into crisis.
 


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