According to the Central Bank of Venezuela, inflation in August reflected a slowdown, reaching 8.9 %.

“This is the second lowest monthly variation reported by the issuing entity in 2016, only behind the 6.3 % recorded in May, and marks a significant moderation after the spike in July, when the CPI reached 19.9 %,” according to BCV data.

The August result reflects that the accumulated inflation for the year amounts to 200.1 %, while the year-on-year inflation stands at 534.2 %.

According to the Central Bank of Venezuela (BCV), August saw a recovery in distribution channels, along with less pressure on the foreign exchange market, reflected in a more contained exchange rate fluctuation and more stable prices for goods and services.

The central bank’s data showed the following double-digit monthly increases: housing services (excluding telephone) 12.3 %; communications 11.7 %; transportation 10.3 %; and miscellaneous goods and services 10.1 %.

On the other hand, household equipment increased by 9.6 %, while restaurants and hotels rose by 9.5 %, and housing rentals by 9.2 %. Clothing and footwear registered a 9 % increase, while alcoholic beverages and tobacco, and health services, both experienced increases of 8.9 %.

The smallest monthly increases were observed in the recreation and culture sector (8.4 %), and in the food and non-alcoholic beverages and education services sectors (8.2 %).

Regarding accumulated inflation between January and August, restaurants and hotels led the increases with 212.3 %, slightly above healthcare at 212%. Following these were miscellaneous goods and services (208 %), recreation and culture (204.8 %), clothing and footwear (202.2 %), and communications (201.7 %).

M.Pino

Source: finanzasdigital

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La entrada Venezuela’s inflation in August was 8.9 % apareció primero en Bitfinance.

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

Source: talcual

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

The National Superintendency for the Defense of Socioeconomic Rights (Sundde) announced the launch of a nationwide operation to ensure that the prices of goods and services are adjusted to the official exchange rate established by the Central Bank of Venezuela (BCV).

The “National Plan for Verification of Compliance with the BCV Exchange Rate” will be implemented in all businesses across the country, Sundde announced on its Instagram account, emphasizing that the goal is to protect the rights of Venezuelans.

 

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According to the agency, checkpoints will be set up near businesses to assist citizens who wish to report irregularities in the prices of goods and services, as well as crimes related to non-compliance with exchange regulations in national commerce.

M.Pino

Source: laverdad

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According to data from the National Institute of Statistics and Geography (Inegi), inflation in Mexico stood at 5.16 % until the first half of August, with an increase in prices in items such as fruits, vegetables and livestock products.

In this context, the “National Consumer Price Index (INPC) decreased for the second consecutive fortnight and reached its lowest level since the first half of June, when it reached 4.78 %.”

The downward trend in the inflation rate continues despite adverse weather conditions. Ricardo Aguilar, chief economist at Invex, indicated that it will be necessary to analyze more inflation data to confirm that core inflation will remain downward.

Among the products that registered the greatest price increase are beef, pork and chicken, in addition to eggs, with an annual increase of 14.69 %. Followed by fruits and vegetables, with an increase in prices of 14.27 %.

Mexicans also faced higher prices for food prepared in “loncherías, taquerías, torterías, inns and restaurants, as well as detergent and payments in universities, high schools and their own homes.”

The prices of cleaning products, domestic gas and plane tickets registered a slight decrease for the first half of August.

Inflation in the first half of August was below the estimate of analysts consulted by Citibanamex, who expected inflation of 5.33 % annually.

Analysts predict that year-on-year inflation will show some slowdown in the remainder of 2024 despite the uncertain economic outlook, increased volatility in the exchange rate and climatic characteristics that affect food production in the country.

For its part, the Bank of Mexico (Banxico) indicates in its forecasts that “it will not be until the last quarter of 2025 when inflation reaches its goal of three percent. At the beginning of August, the institution cut the reference rate by 25 basis points, to leave it at a level of 10.75 %, as a measure to control long-term inflation.”

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Source: eloccidental

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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.

The Consumer Price Index (CPI) of Colombia climbed to 12.53 % year-on-year in November, three tenths more than in the previous month, according to data from the National Administrative Department of Statistics (DANE).

In the monthly rate, inflation increased by 0.7 %, while in the accumulated figure for the year it stands at 11.72 %. In this way, the country has already had five months with an inflation rate above double digits.

By divisions, food and non-alcoholic beverages (27.08 %), furniture and household items (17.33 %) and restaurants and hotels (16.84%) experienced the highest increases, above the average. In turn, the smallest increases occurred in the areas of information (0.18 %), education (5.82 %) and electricity (6.82 %).

Last November, BBVA Research analysts estimated that Colombia would end the year with inflation of 12.5 %, similar to the last figure recorded.

Source: dpa

La entrada Inflation in Colombia rises in November to 12.5 % ​​year-on-year apareció primero en Bitfinance.