The monthly inflation rate in Venezuela stood at 26 % last May, according to the Venezuelan Finance Observatory report. In April, the Venezuelan Finance Observatory placed this indicator at 18.4 %.

According to the independent entity, the increase in monthly inflation was due to the rise in the price of the dollar (25 %). The report identified the largest price increases in the following categories: food (31 %), clothing and footwear (34.3 %), healthcare (34.9 %), and education (35 %).

The regional inflation metrics for May highlight the Caracas Metropolitan Area, with 28.2 %; the state of Zulia, with 29.8 %; and Nueva Esparta, an island state, with 26 %.

Analyzing the upward trend in annualized inflation, the OVF established a “relationship with the monetization of the fiscal deficit, as the BCV’s financing to PDVSA increased by 300 %. This monetary financing accounts for much of the rise in the exchange rate in both the official and parallel markets.”

M.Pino

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La entrada OVF: Annualized inflation in May reached 229 % apareció primero en Bitfinance.

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.”

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La entrada Venezuela’s April inflation reached 18.4 % apareció primero en Bitfinance.

The Venezuelan Finance Observatory (OVF) reported this Monday that cumulative inflation in Venezuela for the first quarter of the year stood at 36.1 %.

According to the independent organization made up of economic analysts, prices for goods and services accelerated during this first quarter. “According to their data, inflation in January was 7.9 %; in February, 12.8 %; and in March, 13.1 %, while the year-on-year change reached 136 %.”

The OVF (National Food and Agriculture Organization) reported in its report this Monday, April 7, that in March, the largest price increases were recorded in the household goods segment (16.7 %) and services such as gas (56 %) and cleaning services (17 %). A 14 % increase was also seen in food and non-alcoholic beverages.

According to analysts, March was the “sixth consecutive month with a sustained devaluation of the bolivar — the local currency — which is still used to pay salaries, bonuses, and pensions, and which lose purchasing power as the dollar rises.”

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La entrada Cumulative inflation in Venezuela was 36.1 % in the first quarter apareció primero en Bitfinance.

The legal currency in Venezuela, the bolívar, has lost 30 % of its value so far this year, according to estimates by the independent Venezuelan Finance Observatory (OVF).

According to the independent organization, “for every 1 % the currency depreciates, prices increase by 1 %”. This is attributed by economist José Guerra, a member of the OVF, to the fact that “the Venezuelan economy is informally dollarized, such that when the exchange rate is rising, prices begin to rise.”

The specialist has pointed out that the Central Bank of Venezuela cannot effectively intervene to contain the depreciation of the national currency. “That is, there are not enough dollars to inject into the economy.”

Despite this outlook, which according to the OVF is not encouraging, President Nicolás Maduro has remained optimistic, citing an increase in oil production and declaring that the nation is open to international investment.

The agency’s projections point to a closing of 2025 at 120 bolivars per dollar. “The trend is undoubtedly toward currency depreciation,” Guerra continues. Regarding inflation, they have indicated that it could reach 150 %.

M.Pino

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La entrada The bolívar has devalued 30 % so far this year apareció primero en Bitfinance.

The Venezuelan Finance Observatory (OVF) issued the report on the inflation rate for the month of February of this year, indicating that the monthly index was 12.8 %, while the annualized inflation reached 117 % and the accumulated inflation closed at 20.3 %.

In a note published on its website on March 5, the OVF stated: “These results coincide with what was reported in the Economic Expectations Survey for February, which anticipated an inflation rate between 100% and 120 %.”

The interpretation of this inflationary behavior is attributed to a coupling of the price indexes to the increase in the US dollar.

The organization noted that the items that showed the greatest increase in value were entertainment (21.2 %), equipment (17.8 %), restaurants and hotels (17.9 %), clothing and footwear (17.1 %) and food (13.3 %).

M.Pino

Source: finanzasdigital

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La entrada Venezuela’s inflation in February was 12.8 % apareció primero en Bitfinance.

Data from the Venezuelan Finance Observatory on inflation for the month of January indicate that it closed at 7.9 %. The entity highlights that it was 6.9 points below last December, when it closed at 14.8 %.

The OVF indicated in a press release that “this figure translated into an interannual inflation of 91.3 % at the national level, which reflects the persistent rise in prices experienced by the Venezuelan economy.”

The main factor for the inflation figure was identified as the increase in the value of the dollar in January and highlighted that “the sectors with the greatest increase were health (11.5 %), education (10.3 %), as well as clothing and footwear (10 %)”.

The organization also referred to the interannual and accumulated inflation rates for Venezuela in the first month of 2025, placing them at 91.3 % and 7.9 %, respectively.

M.Pino

With information from national media

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La entrada Venezuela’s inflation in January was 7.9 % apareció primero en Bitfinance.

The Venezuelan Finance Observatory (OVF) indicated that during the month of July, inflation in Venezuela was 4 %.

The independent entity of the Central Bank of Venezuela also indicated that the interannual and accumulated inflation rates in the country reached 62 % and 22 %, respectively.

According to the OVF report, “the items that showed the greatest increases were services (8.7 %), home equipment (5.1 %) and alcoholic beverages and tobacco (3.9 %).”

By area, the highest inflation rate was recorded in the Caracas Metropolitan Area (AMC), which showed a variation of 5 %; They are followed by the states of Nueva Esparta (4.2 %), Anzoátegui (3.9 %) and the State of Zulia (2.9 %).

A determining item that registered a significant increase is services, with 17.4% in the Caracas Metropolitan Area, 12.4% in Anzoátegui, 9.9% in Nueva Esparta and 1.4% in Zulia.

According to the OVF, “this acceleration of inflation (4 %) is explained both by the nominal depreciation of the bolivar against the dollar (3.4 %) and by the increase in public service rates, especially urban sanitation (16, 9 %) at the national level.”

Inflación Venezuela mes de Julio 2024
📉Mensual: 4%
📉Interanual: 62%
📉Acumulada: 22,7% pic.twitter.com/an2Ybru4gp

— Observatorio Venezolano 🇻🇪 de Finanzas (@observafinanzas) August 6, 2024

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La entrada OVF: Inflation in Venezuela in July was 4 % apareció primero en Bitfinance.

Venezuelan inflation was 1.7 % in January, a decrease of 0.7 points compared to December 2023, reported the Central Bank of Venezuela (BCV).

With this figure, the country accumulates four consecutive months of slowdown in the increase in prices of goods and services, after having registered a rate of 2.4 % in December, 3.5 % in November and 5.9 % in October, according to official statistics.

The data for the first month of 2024 is 40.4 points below the inflation recorded in January 2023, of 42.1 %, a figure that fell to 19.3 % in February and then remained in single digits during the remaining 10 months of last year.

The sector that registered the greatest increase in prices last month was communications, with an increase of 3.7 %; followed by education, with 3.5 %; alcoholic beverages and tobacco, with an increase of 3.3 %, and health and home equipment, whose prices grew by 2.6 % in January.

The official data varies by almost three points from that released last Tuesday, January 30, by the Venezuelan Finance Observatory (OVF), an independent entity made up of economic experts, which calculated January inflation at 4.2 %.

In December 2021, Venezuela emerged from a hyperinflation that it entered in 2017 and that, for four years, reduced the value of the bolivar, the country’s official currency.

Taken and with information from El Sumario

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La entrada Inflation in Venezuela was 1.7 % in January according to BCV apareció primero en Bitfinance.

The National Consumer Price Index (INPC) of Venezuela registered a slight increase in October of seven tenths, reaching 6.7 % monthly, while the year-on-year figure fell to 362 %, compared to the year-on-year inflation of 396 % registered in September.

In this way, the Venezuelan price index reaches the lowest interannual figure of the year, already accumulating a consecutive fall of three months, after an increase last July that put an end to the downward trend since the beginning of the year.

All in all, it is still a figure that reflects a hyperinflation scenario and that contrasts enormously with the rest of the countries in the Latin American and Caribbean region (except Argentina, where inflation is also above three digits).

According to the information released this Monday by the Venezuelan Observatory of Finance (OVF), an independent economic information organization, this 6.7 % monthly price increase occurred in a context in which the exchange rate remained relatively stable.

This fact denotes that the policy of trying to contain the exchange rate so that it acts as an anchor for inflation does not seem to be giving the expected results, by depriving the economy of inflationary expectations.

Among the items that experienced the greatest increases, services stand out, with an increase of 9.8 %, mainly due to the 17 % increase in the mobile telephony division. For its part, the restaurants and hotels category registered an increase of 9.5 %, and education of 8.3 %. Food prices also showed a significant increase of 7.1 %.

Source: dpa

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La entrada Inflation in Venezuela climbs to 6.7 % monthly but year-on-year falls to 362 % apareció primero en Bitfinance.

The Venezuelan economy registers a 7 % drop, after two consecutive quarters of contraction. This has been indicated by the Venezuelan Finance Observatory, OVF.

The agency has indicated this Wednesday that a new recessive cycle is appreciated “compared to the same period last year.

According to OVF analyses, during the first quarter of 2023 “the country’s economic activity contracted 7.6 % compared to the same period of the previous year, while, between April and June, it fell by 6.3 % compared to the second quarter of 2022.”

Ángel Alvarado, a member of the observatory, stressed that the national economy has been accumulating, since the end of 2021, seven quarters of decline.

Among the reasons for this persistent drop in economic growth in Venezuela, the OVF highlights the low remuneration of workers and credit restrictions that “inhibit any financing to economic sectors.”

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Source: americaeconomia

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La entrada Venezuela registers two consecutive quarters of economic contraction apareció primero en Bitfinance.