Steve Hanke has devoted considerable effort to building up data on hyperinflations during the last century or so. He offers a quick overview of this work in Forbes (January 20, 2019). Below is his list of hyperinflations. When it comes to Venezuela, he writes:
Now, let’s turn to the world’s only current hyperinflation: Venezuela. It ranks as the 23rd most severe. Today, the annual rate of inflation is 120,810%/yr. While this rate is modest by hyperinflation standards, the duration of Venezuela’s hyperinflation episode, as of today, is long: 27 months. Only four episodes of hyperinflation have been more long-lived.
Here\’s the table of all 58 hyperinflations:
For those who want more, here\’s an earlier discussion of \”Hyperinflation and the Venezuela Example\” (April 28, 2016). Here\’s a discussion of \”Hyperinflation and the Zimbabwe Example\” (March 5, 2012). And I offered an earlier discussion of the list from Hanke and Krus in \”A Systematic List of Hyperinflations\” (August 21, 2012).
