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The Cuban peso lost 86% of its value in one year, and the regime entered a new crisis

Cuba's government announced that official retail inflation represented 42.08% in January 2023, based on a survey of "official prices" dramatically affected by nationwide shortages.

Monthly inflation reached 2.32% in the first month of the year after a peak of up to 4.21% in October 2022.

But the official figures are far from alternative estimates.

In practice, shortages of key goods and services are supported by transactions in informal markets, with prices much higher and tied to the evolution of supply and demand.

US economist and professor at Johns Hopkins University, Steve Hanke, estimates that the country . . .

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