Crumbling Caracas

The Friday File: Last month, Venezuela’s hyperinflation rate was a staggering 223.1%, and according to IMF forecasts, it could reach 1 million percent for the full year. If Venezuela’s inflation gets no worse, it would be just the 23rd worst case of hyperinflation; what a relief. The worst case: postwar Hungary, where inflation was 41,900,000,000,000,000%. The currency’s half-life was just 15 hours. In Venezuela, it’s a full 19 days!