Venezuela reports inflation of 8.7% in September, according to Central Bank

Venezuela reported inflation of 8.7% in September compared to 7.4% in August, the Central Bank said on Friday. With the September variation, accumulated inflation in nine months reaches 158.3% according to official information. The greater …

Written by: Jack Williams

Published on: October 25, 2023

Venezuela reported inflation of 8.7% in September compared to 7.4% in August, the Central Bank said on Friday.

With the September variation, accumulated inflation in nine months reaches 158.3% according to official information.

The greater depreciation of the local currency, the bolivar, has continued, which has had an impact on prices, according to analysts.

Year-on-year inflation stood at 317.6%, according to Reuters calculations based on figures from the Venezuelan issuer, and remains the highest inflation in the region.

The government, to try to stop the rise in prices, has focused on cutting public spending, restricting credit and injecting foreign currency to stabilize the exchange rate, but the strategy has been unstable because there have been months of high prices. inflation.

The groups that increased the most were education services 18.1% and transportation 11.1%, according to the issuer’s data.

Jack Williams

Jack Williams established himself as the editor-in-chief of The Vermilion with rigorous journalistic traits and an incessant quest for truth. His career began as an investigative reporter, where he quickly gained a reputation for his in-depth research and insightful articles. Williams takes his role at The Vermilion very seriously. Since he became editor-in-chief, he has set an editorial line based on impartiality, factual accuracy, and context relevance; this has established The Vermilion as a reference for political, economic, and global news. Under his leadership, the media continues its mission of reporting news with accuracy and equanimity, giving a voice to those who are often overlooked by large-scale media. Jack dedicates himself to fulfilling this mandate with passion, rigour, and unwavering determination.