Venezuela's Inflation Falls for 5 Months in a Row

Venezuela’s National Consumer Price Index recorded a 0.8% inflationary increase in April, which represents a decline in inflation for the fifth month in a row, informed Finance Minister Jorge Giordani during a joint press conference with the president of the Venezuelan Central Bank, Nelson Merentes.

By Agencia Venezolana de Noticias


Finance Minister Jorge Giordani (CdO).
Finance Minister Jorge Giordani (CdO).
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Presenting the results of a report drafted by the Venezuelan Central Bank and the National Statistics Institute, authorities confirmed that accrued inflation during the first four months of 2012 amounts to 4.4%, while the annual rate from May 2011 to April 2012 is 23.8%. This represents a fall from the annualised inflation rate in March of 24.6%.

Giordani said this downward trend reaffirms the goal set in the national budget of annual inflation in 2012 of between 20% and 22%.

This data "is accompanied by a decline in the unemployment rate (7.9% in March),” and the result of first quarter economic performance, the minister stated.

Variation of the National Consumer Price Index rated 0.9% in March. In February it was 1.1%, in January 1.5% and in December 2011, 1.8%.

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