Here’s that same chart on a logarithmic scale, where every vertical step is 10-times greater in value than the vertical step below it.

Maduro has vowed (paywall) to cut inflation down to a single digit this year—a stiff challenge given that prices are currently estimated to be rising at 9,900% by Bloomberg’s index that tracks the price of a cup of coffee in Caracas.

Venezuela is suffering a humanitarian crisis, with its economy crippled by economic mismanagement and hefty sanctions placed on Maduro’s dictatorial regime. Last year, Juan Guaido, the opposition speaker of the National Assembly, declared himself president and was promptly recognized by much of the international community, but his faltering coalition has so far failed to take actual power.

📬 Sign up for the Daily Brief

Our free, fast, and fun briefing on the global economy, delivered every weekday morning.