Venezuela inflation rate drops again - to 445,482 percent

Venezuela's monthly inflation rate fell for the second straight month in June, but the annual rate remained above 400,000% and workers' salaries are still not enough to cover the rising cost of consumer goods in the collapsing economy, an opposition lawmaker said on Wednesday.
Consumer prices rose 24.8% last month, down from 31.3% in May, according to the opposition-controlled National Assembly, which publishes inflation measurements in the absence of regular official economic data from President Nicolas Maduro's government or the central bank.
That brought the 12-month inflation rate down to 445,482% from 815,194% in May and rates of more than 2 million percent earlier this year. The drop comes as the central bank has hiked banks' reserve requirements to restrict liquidity, and as the exchange rate has been relatively stable.