The Central Bank of Venezuela (BCV) revealed that the country’s cumulative inflation at the end of 2023 was 189.8%. This figure shows a significant decrease of 44.2 points compared to 2022, when inflation reached 234%.

During the month of December, the inflation rate stood at 2.4%, marking the third consecutive month of slowdown in the rise of the prices of goods and services. This downward trend is evidenced by the reported inflation of 3.5% in November and 5.9% in October, according to official data.

The education sector experienced the largest price increase in December, with an increase of 7.2%, followed closely by transport, with an increase of 4.6%; household equipment, with 3.5%; and health, with an increase of 3.3%.

The BCV report highlights that inflation in Venezuela began the year 2023 with an increase of 42.1% in January, followed by 19.3% in February. However, the next ten months of the year showed single-digit inflation rates, with the highest of 8.7% recorded in September.

K. Tovar

Source: UniónRadio

(Reference image source: x, @VTVcanal8)

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La entrada Venezuela closed 2023 with inflation of 189.8% apareció primero en Bitfinance.