What industry did chavez nationalize that caused rampant inflation?

The correct answer is - the oil industry.

Hugo Chavez nationalized the oil industry in the South American country of Venezuela. That has led to a rampant inflation in the country, though it has to be taken in consideration that the inflation was actually caused because of the sanctions of the countries that were happy with that move.

The USA, the Arab countries, the EU, were all displeased with this move, especially because Venezuela has the biggest oil reserves in the world. Being pushed out and without any possibility to control part of that oil, these countries/organizations put a lot of sanctions on Venezuela to harm its economy so that it gives up on their interests, whit the end result being the suffering of the ordinary people.

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