Business Insider has more details about Venezuela’s inflation problem. And, of course, the official government line is that inflation isn’t that bad, but that’s how these socialist propaganda machines work (emphasis added) –

According to Venezuela’s official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20).

But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.

This time last year, the bolivar was far more valuable, and even as recently as May this year, you could still get hold of a dollar for less than 300 bolivars. Today, you need more than twice that.

The country has a spiralling inflation rate. Official inflation is high enough, at 68.5%, but like the official…