Prices in Venezuela rose 4,068 percent in the 12 months to the end of January, according to estimates by the country’s opposition-led National Assembly, broadly in line with independent economists’ figures.

Inflation in January alone was 84.2 percent, opposition lawmakers said, amid an economic crisis in which millions of Venezuelans are suffering food and medicine shortages.

The monthly figure implies annualized inflation of more than 150,000 per cent and that prices will double at least every 35 days.

With cash in short supply and banking and communications infrastructures struggling, day-to-day transactions are becoming increasingly difficult for Venezuelans.

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