The country's inflation rate is no better, with official figures putting the number at 64pc. However, according to Robert Bottome, publisher of VenEconomy Weekly, it is 100pc and Russ Dallen of Caracas Capital Market says it is 120pc. To put that into context, Argentina's inflation rate in December was 10.9pc, Brazil's was 6.4pc and Mexico was 4.08pc.