MIT: True Inflation in Venezuela
Since May 2017 a team of scholars from the Massachusetts Institute of Technology (MIT) are collecting price information weekly and estimating inflation in Venezuela. That is an essential task, given that the Venezuelan Central Bank halted publication of inflation back in 2015. Prices are gathered by consumers via an app, taking pictures of products and bar codes, and uploading them into a system. Volunteers are assigned ten products weekly, at a specific store of their choosing. Previous month has resulted in 25.1% inflation, equivalent to yearly 1,371%. Food items are running at 29.2% a month, equivalent to 2,072% per year. You can also participate by downloading the app here!