The National Consumer Price Index (INPC) increased, registering 8.2%, as did the rest of the BCV indicators. The main variations were registered in communications, health, education and leisure. Year-over-year inflation (August 2021 – August 2022) is 114%
The Central Bank of Venezuela (BCV) reported on the night of this Tuesday, September 13 inflation figures for August, reflecting the rise in the dollar during that month. According to the entity, the figure stood at 8.2%, one of the highest of the year.
With this result, year-on-year inflation (August 2021 – August 2022) is 114%. In July, the BCV placed this indicator at 7.5%.
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The prices of goods and services decreased to 7% in August, after rising in June and July this year. For its part, the National Consumer Price Index (INPC) increased, registering 8.2%, with which the greatest variations were in the Health items with 9.2%; Education services with 12.5%; Leisure and culture with 10.2%; and Communications with 81.8%.
Housing services except telephone stood at 5%; Clothing and footwear with 96.7%; Restaurants and hotels with 8.4%; and Food and non-alcoholic beverages with 6.9%.
The rest of the groups also showed increases in prices: Home equipment rose one percentage point and went to 7.2%; Housing rental with 6.7%; Transportation with 5.1%; while Alcoholic beverages and tobacco fell to 4.8%.
During the last week of August, the parallel dollar registered a rise of 36%, caused, in part, by social protests against the instructions of the National Budget Office (Onapre) that forced the government of Nicolás Maduro to relax spending public, which had been limited by the unofficial anti-inflationary plan that Chavismo has in place.
The Venezuelan Finance Observatory (OVF), with an opposition tendency, had managed a monthly inflation of 17.3%, the highest in the last year. The figure tripled the indicators in Colombia and doubled that of Mexico, Uruguay and Chile in all of 2021.
Although throughout this year the Maduro administration has managed to keep the dollar at a stable price, there have been times when the brake on the rise loses its effectiveness due to the imbalance caused by mistrust in the national currency.
The Chavista strategy managed to get the country out of hyperinflation, but not out of the accumulated inflation of recent months. To achieve this, it would be necessary, in parallel, the financing of multilateral organizations and other economic packages that require foreign investment that, due to the lack of international political recognition, make the regime limp on economic issues.
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