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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