Venezuela's inflation soared to 475 percent in 2019, highest in the world

Venezuela recorded the world's highest inflation rate at 475 percent in 2019, marking a severe deterioration in the country's economic crisis. The South American nation's economy was significantly impacted by the Trump administration's maximum pressure campaign, which included extensive sanctions targeting the government of President Nicolás Maduro. The hyperinflation represents one of the worst economic collapses in modern Latin American history, devastating the purchasing power of ordinary Venezuelans and contributing to a massive exodus of refugees to neighboring countries.