BCV reported inflation of 1.5 % in May

The Central Bank of Venezuela indicated that inflation during the month of May was 1.5 %. He added that the interannual rate was 59.2 % and the accumulated rate was 7.8 %

For the month of May, according to the report from the Central Bank of Venezuela, the country’s inflation was 1.5 %.

According to the regulatory entity, interannual inflation was 59.2 % and accumulated inflation was 7.8 %.

According to BCV data, the largest price increase was detected in the following items: food and non-alcoholic beverages (1.9 %); education services (1.8 %); restaurants and hotels (1.8 %); various goods and services (1.3 %); clothing and footwear (1.3 %); health (1.1 %) and transportation (1.0 %).

The Venezuelan Observatory of Finance (OVF), an independent entity not linked to the Central Bank (BCV), had estimated inflation in Venezuela of 3.9 % for May 5.

According to data from the specialized portal Datamacro, the CPI reflected a decrease in May, standing at 59.2 %; that is, 5.7 points below the previous month.

The BCV has stressed that inflation’s tendency to moderate continues during the rest of the year. Through a press release, it indicated that the “annualized variation (…) was 59.2 %, the lowest value since February 2014 -57.3 %-.”

M.Pino

Source: finanzasdigital

(Reference image source: Unsplash+, in collaboration with Getty Images)

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