Asdrúbal Oliveros, a founding member of Ecoanalítica, pointed out this Sunday that the exchange rate at the end of 2023 could be higher than 60 bolivars per dollar.

Venezuela is at the top of the list of Latin American countries with the highest inflation rate. Added to this is the fact that the dollar continues to rise, faster than the devaluation of the bolivar.

The prices of goods and services in Venezuela are settled in dollar. “Inflation has increased significantly, going from 150 % to 400 % in one year, and it is expected to close at 228 %,” according to Olivares.

The specialist stressed that “in dollar terms, prices have increased 45 % in one year, which is much higher than in other countries.”

Companies find no other way out of the current contraction than to increase prices in dollars, since their production costs in the currency are higher.

M.Pino

Source: elinformador

(Reference image source: Colin Watts, Unsplash)

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