Inflation continues to rise in Venezuela

As a result of the constant increase in the prices of goods and services, Venezuela could reach an inflation rate of 300 %.

Economists point out that the injection of millions of dollars into the banking sector by the Central Bank of Venezuela has contributed to this inflationary crisis.

According to Luis Bárcenas, “the injection of more than 180 million dollars” recently to the banks would demonstrate the “fragility in which the Venezuelan economy is submerged.”

Analysts predict that if the increase in the prices of goods and products continues, calculated between 10 and 20 % per month, the country advances to an inflation of 300 %.

Bárcenas indicated, in a recent radio interview, that Venezuelan institutions show distrust of the State’s measures to curb inflation.

According to the economist, “inflation increases 5 % every week, the exchange rate that now seems to adjust more to the reality of prices of several years ago, so we see that this aggressive action that the BCV has to curb inflation.”

M.Pino

Source: hispanopost

(Reference image source: Viki Mohamad, Unsplash)

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