Inflation in Venezuela takes the highest leap in 17 years
Source: El Universal (Venezuela)
Statistics disclosed on Thursday by the Central Bank of Venezuela (BCV) reveal the highest increase in prices over the last 17 years in Venezuela, an unbalance that undermines the purchasing power of most households.
In September, inflation climbed by 4.4%. Over the first nine months, inflation took a leap of 38.7%. The number exceeds the annual inflation rate recorded in the 1997-2012 period.
Inflation in Venezuela is boosted by several factors. The government has printed banknotes through the BCV to meet a part of its expenses. The combination of more bolivars and the same supply products translates into skyrocketing prices.
Read more: http://english.eluniversal.com/economia/131011/inflation-in-venezuela-takes-the-highest-leap-in-17-years
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