Venezuela Records World's Highest Inflation Rate at 475 Percent in 2019

Venezuela experienced the world's highest inflation rate last year, reaching 475 percent as the country's economy continued its steep decline. The South American nation's economic crisis deepened significantly during 2019 due to what analysts describe as a "maximum pressure" campaign implemented by the Trump administration. The hyperinflation represents another milestone in Venezuela's prolonged economic collapse, which has devastated the oil-rich country and forced millions of citizens to flee abroad in search of basic necessities and economic opportunities.