The Central Bank of Venezuela reported this Monday, September 9, the inflation rate for the month of August, which closed at 1.4 %, while the accumulated rate reached 11.2 %.

According to the regulatory entity, the largest increase in prices was recorded in the education services sector, where values ​​rose 3.2 %, as well as food and non-alcoholic beverages, with an increase of 2.1 %.

As a counterpart to these indices, the Venezuelan Finance Observatory (OVF), an autonomous entity made up of economic experts, maintains that for the month of August the country’s inflation was 2.8 % and the accumulated rate was 26.1 %.

In any case, the Executive plans to close the year with double-digit inflation for the first time in ten years.

The government of Nicolás Maduro has highlighted in its speeches the progress towards price stabilization as a reflection of the new internal economy.

M.Pino

With information from the BCV, national and international media

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

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