This chart shows the insanity of Venezuela's hyperinflation

Venezuela's inflation has skyrocketed amid the ongoing economic, political, and social crisis.

Consumer prices in Venezuela soared by 741% year-over-year in February 2017, according to estimates from the opposition-led congress, as cited by Trading Economics. In December 2016, the inflation rate touched an all-time high of 800%.

The rate has averaged about 32.47% from 1973 to 2017, according to Trading Economics' data.

By comparison, consumer prices in the US rose by 2.4% in March. The all-time high for the US inflation rate was 23.70% in June 1920.

The chart below shows Venezuela's inflation rate from the 1970s to 2017.

NOW WATCH: This man spent 6 weeks working undercover in an iPhone factory in China - here's what it was like