Recent data from the Venezuelan Finance Observatory (OVF) show that Venezuela’s inflation in April reached 18.4 %, 5.3 points higher than in March.

According to the OVF, “the food basket reached a value of $ 409, reaching its highest level in a long time,” according to a publication by the organization of economic experts and analysts on its website on Monday, May 5.

The report indicates that year-on-year inflation was 172 % and cumulative inflation was 63.1 %, “driven largely by a 23% increase in food, followed by a 20 % increase in entertainment, and a 17% increase in restaurants and hotels.”

Nationally, the OVF estimated core inflation, which excludes food and services, at 15.87 % monthly, 170.80 % year-on-year, and 61.76 % cumulative.

In the organization’s report, they break down inflation by region, highlighting the state of Zulia, with a monthly inflation rate of 17.49 % last month; and the metropolitan area, the country’s capital city, with a monthly inflation rate of 16 %, a year-on-year increase of 157.4 %, and a cumulative increase of 56.7 %. “In Anzoátegui, the indicators stood at 16 % monthly, 185 % year-over-year, and 61 % cumulative. Nueva Esparta, meanwhile, reached 18.62 % monthly, 176 % year-over-year, and 66.3 % cumulative.”

M.Pino

Source: yaracuyaldia

(Reference image source: Vincent Dörig on Unsplash)

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The energy crisis in Ecuador has not yet been resolved. Although the conditions of the Mazar reservoir are good, according to the president of the College of Electrical and Electronic Engineers of Pichincha, Marco Acuña, the blackouts could return in April.

Acuña indicated that the reservoir is five meters from reaching its maximum level, so that “in the dry season it could provide energy for about 30 days and its capacity will depend on the rains that occur in the next months” and the new dry season is expected in April.

The January rains have delayed the rationing of electric power a little, according to analysts. However, they suggest that the authorities take several measures to avoid strong rationing, such as analyzing “the need to guarantee transparency in access to technical information on thermal and hydroelectric plants, in addition to ensuring the supply of spare parts for the maintenance of these facilities.”

On the other hand, they have asked the country’s authorities to present the real data on the state of the thermal park and its operational condition, considering that there may be approximately 1,200 recoverable megawatts (MW).

They have also asked for “transparency and breadth in the contracting processes for energy generation that the Government undertook last year, which includes renting barges, buying thermal generators on land and others.”

The “lack of adequate maintenance and the limited capacity to incorporate new electric generation put at risk the stability of the energy supply in the country” are among the reasons that stand out for this energy crisis. According to the Advisory Council, it is urgent to recover the thermal park that is not working, “which could deliver more than 500 MW to the National Interconnected System (SNI).”

M.Pino

Source: americaeconomia

(Reference image source: Andrey Metelev on Unsplash)

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The Consumer Price Index (CPI) of Argentina returned repeatedly in May above three digits, reaching 114.2 % year-on-year, which represents an increase of 5.4 points compared to the data for April.

For its part, according to the National Institute of Statistics and Censuses (Indec), monthly inflation has been 7.8 %, 0.6 tenths less than in April. In turn, only in the first five months of the year, accumulated inflation is 42.2 % (ten points more than in April).

The monthly data for May is the second highest in the last year, only behind the figure of 8.4 % from last April. Similarly, in year-on-year terms, it represents the fourth consecutive month in which the index exceeds three digits.

The division of housing, water, electricity, gas and other fuels had a higher than average monthly increase, and was the only group that increased above double digits, up to 11.9 %. It is followed by restaurants and hotels (9.3 %) and health (9 %). Four other groups were also above the national average.

On the other hand, the two divisions with the least variation in May were education (4.9 %, one tenth less than in April) and food and non-alcoholic beverages (5.8 %).

K. Tovar

Source: El País

(Reference image source: Unsplash+)

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The central banks of Russia and Japan announced that in April they will launch the pilot tests of their CBDCs, planes that they have been working on for a few months.

The executive director of the Japan Bank, Uchida Shinichi, declared this week that the pilot tests seek to make clear the viability of the CBDC currency in the local financial environment, with the collaboration of thirteen financial institutions and other payment platforms.

You need to know that you can do that before you can do it with non-individual person-to-person transactions, and you can do it with business and service customers.

Regarding the tests in Russia, which has already been announcing this topic since last year, it is expected to launch its CBDC in 2024.

In the midst of the controversy that digital money generates globally, and especially in countries like Russia and Japan, where restrictions are deep, it is important to remember that digital money is being considered as a way to evade sanctions from the European bloc and from USA.

Related to the issue of cryptocurrencies, on the other hand, it is important to mention the advances of the European Parliament in terms of digital identity (eID) that allows citizens to “identify and authenticate themselves online (through a European digital identity wallet) without having to resort to commercial providers”.

M.Pino

Source: observatorioblockchain

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

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The consumption price index (CPI) of the United States stopped its ascending path in April at 8.3 % at an interannual rate, two tenths less than in the previous month, when it had registered its greatest reading since December 1981, according to the Office of Labor Statistics of the US Department of Labor.

The slight moderation of the prices’ escalation in the American economy, lower than expected by the market, responds to the fact that, although the price of energy rose 30.3 %, against 32 % of March, the March, the Foods took 9.4 % year-on-year, six tenths more than the previous month and its largest rise since April 1981.

In this way, by excluding from calculation the volatility of energy and food, the interannual underlying inflation rate stood last April at 6.2 %, compared to 6.5 % in March.

In monthly terms, in April the CPI advanced 0.3 %, after the 1.2 % rise in March.

Last week, the Federal Open Market Committee (FOMC) of the United States Federal Reserve (FED) decided 1 %, in what was the greatest rise in the price of money since 2000.

Source: dpa

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The Chilean Consumer Price Index climbed again in April to stand at an interannual rate of 10.5%, according to data released by the National Institute of Statistics (INE).

The new increase in the price of products and services was caused by the higher prices in ten of the twelve divisions analyzed by the INE. Among the divisions with increases in their prices, food and non-alcoholic beverages (2.3%), and recreation and culture activities (2.9%) stood out. On their side, clothing and footwear and education did not register variations with respect to March.

The inter-monthly variation, that is, between March and April, reached 1.4%, thus registering an accumulated variation of 4.8% so far this year.

In the interannual rate, the strong increases in the segments of food and non-alcoholic beverages (+14.8%) and restaurants and hotels (+14.7%) stood out. In contrast, the goods and services included in the communications group experienced a fall of 4.4% in the last twelve months.

The statistical institute explained that the increase in prices of food and non-alcoholic beverages was influenced by bread, cereals and oil, mainly; while in leisure and culture activities, tourist packages increased by 14.9%.

K. Tovar

Source: Finanzas Digital

La entrada Chile reaches double-digit inflation apareció primero en Bitfinance.

Twitch announced the disappearance of its desktop application for Mac and Windows, which will be operational until April 30, although it maintains access through a computer from the Twitch.tv page.

“We have made the difficult decision to say goodbye to the Twitch desktop app”, the company itself said in a statement on its website in the section that explains how to uninstall it.

The entertainment platform added that the PC application will officially disappear on April 30. “This decision has not been taken lightly and has been the result of a combination of user feedback and usage.”

“This move allows us to invest more heavily in improving and adding new ways to connect with creators and communities,” according to part of the statement.

The announcement follows the recent loss of some of their most popular streamers, including Ludwig, DrLupo, TimTheTatman, and Valkyrae. In any case, the platform has just registered an increase of 45% in its number of hours viewed in 2021, up to 24,000 million, according to figures from Streamelements.

K. Tovar

Source: COPE

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The Organization of the Petroleum Exporting Countries (OPEC) recorded an increase in its joint production of 26,000 barrels per day during the month of April, although it was still below its maximum quota, according to the monthly report prepared by the organization on the oil market.

Specifically, the 13 countries that make up the cartel produced 25,083 million barrels per day in the fourth month of the year, compared to 25,057 million the previous month. These data come from the secondary sources managed by OPEC, which are the only ones that offer reliable data for all countries.

In April, OPEC and its allies agreed to maintain the rate of increases planned for the coming months as part of their production control pact to maintain crude prices.

If the data from Venezuela, Libya and Iran, which do not participate in the agreement between OPEC and its allies, are discounted, the cartel produced 21,115 million barrels per day, below the 22,119 million it could have produced in the fourth month of the year, according to the limits set in the production control agreement.

The country that increased the pumping the most was Nigeria, with 75,000 more barrels. Behind were Iran (73,000 more) and Saudi Arabia (34,000 more). On the other hand, Venezuela reduced production by 81,000 barrels while Libya’s fell by 67,000.

K. Tovar

Source: Hellenin

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