Venezuela’s inflation rate just hit 830,000% — and is likely to keep rising

Inflation in the stricken South American nation of Venezuela hit an annual rate of 830,000% this year to October, according to new data released this week to the country’s parliament.

A report published by a coalition of opposition parties said the annual rate had almost doubled since in the month since the latest report was published. In the year to September, inflation stood at 488,000%.

Monthly inflation actually fell somewhat, with that figure falling to 147% in October from 233% in September.

Read more: 10 pictures reveal the huge amounts of cash Venezuelans need to buy everyday things