The Central Bank of Venezuela published that, between January and October of this year, the accumulated variation of the National Consumer Price Index in the Caracas Metropolitan Area (AMC) was 16.9%
In October, month-on-month inflation in Venezuela reached 4%, an increase compared to the 0.8% registered in September, however, it is still lower than that observed in October 2023 (5.9%), according to data from the Central Bank of Venezuela (BCV).
The BCV published that, between January and October of this year, the accumulated variation of the National Consumer Price Index (INPC) in the Caracas Metropolitan Area (AMC) was 16.9%.
According to records, this data marks the lowest value since 2012, when the variation closed at 13.9%.
The institution highlights that inflation continues to show a decreasing trend in the medium term.
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In the press release published on its website it explains that the slowdown in inflation would represent a positive sign for Venezuela’s economic recovery.
According to the organization, this decrease in prices reflects the efforts of the Venezuelan government to maintain economic stability, despite the structural difficulties that the country faces, due to the “limitations of external resources and impediments to operating on equal terms with other economies.” subject to unilateral coercive measures.
Inflation reached 12.5% in the first nine months of 2024which suggests that it could end the year with a figure below 15%, which would represent the lowest inflation in more than ten years.
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