Inflation in Venezuela reached 157% in 12 months in the measurement made in September by the Venezuelan Finance Observatory (OVF), an entity independent of the country’s Central Bank, which released data on price developments this Thursday.
Last month, inflation was 11.5%, 5.8 percentage points lower than the OVF measured in August. In relation to the accumulated in the first nine months of the year, the increase was 111.8%.
For the OVF, the general increase in prices, despite the reduced pace in September compared to the previous month, continues to show “a clear upward trend”.
The sectors with the biggest increases in September were education (40.7%), domestic equipment (25.6%), goods and services (21.7%) and food (19.5%).
“This acceleration of the inflation rate takes place in a context of significant intervention by the BCV (Central Bank of Venezuela) in the foreign exchange market to try to stabilize the exchange rate”, said the entity.
The OVF also reported that, in September, the value of the basic food basket for a family of five was US$ 375 (R$ 1947.71 at Thursday’s exchange rate), an increase of 23.05% in relation to the same month in 2021.
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