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Inflation

How Bad is Venezuela's Economic Situation?

(AVN)

Ryan Mallett-Outtrim runs readers through an indepth breakdown of the current economic situation in Venezuela. He argues that despite the dire outlook, not all is lost.

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Venezuelan Central Bank Releases Inflation Data after Year-Long Gap

Accumulated inflation rates for 2014 and 2015. (Venezuelan Central Bank)

The Venezuelan Central Bank has released data relating to the country’s debt and accumulated inflation rates after keeping the numbers under wraps since December 2014, on the grounds that the country is at war.

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The Roots of the Current Situation in Venezuela

(AP)

Venezuelanalysis's Gregory Wilpert breaks down the causes of the current difficulties in Venezuela, arguing that they can be traced to the currency control measures implemented in 2003 - designed to defend the government against a capitalist attack on its currency.

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How Deep Does the Crisis Cut?

People ride on a public bus past a street mural of Venezuela’s late President Hugo Chávez in Caracas.  (Photo: Ariana Cubillo

VA's Z.C. Dutka analyzes the roots of the current economic crisis in Venezuela and calls on the Maduro government to assume responsibility for the acute difficulties faced by the country's popular classes, which she identifies as a crucial step for further deepening the Bolivarian Revolution.

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Venezuela’s PDVSA Discusses Sale of Citgo as Central Bank Reports Drop in Inflation

A Citgo gas station in Chicago, USA. (Wikimedia Commons/Sdi-jr)

Yesterday the Venezuelan Central Bank reported that inflation has dropped steadily from 5.7% in May of 2014 to 3.9% in the month of August, representing 63.4% accumulated inflation since August of last year. Now under new management, state-owned oil and gas company PDVSA is reportedly seeking US$10 billion dollars for the sale of the Citgo Petroleum Corporation.

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Venezuelan Biometric System Sees Positive Results amid Opposition Boycott

A biometric scanner. (quepasa.com)

Now installed in 11 major supermarket chains nationwide, the biometric system initiated by the Venezuelan government to combat scarcity has produced immediate results. 

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Venezuelan Voices, Part I: An Economic Spiral

On the border between Brazil and Venezuela, if you don't want to wait on the long gas station lines, you can fill up your t

As international media plays its favorite old game of lambasting the Venezuelan government, long-time observers of the Bolivarian process may be wondering how much truth lies in the prime-time reports depicting empty shelves, long lines and charts showing catastrophic inflation. How precarious is Venezuela’s current economy and, more importantly, how much are the effects of this felt by the Venezuelan people?

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Major Airlines to Regulate Fares in Venezuela as Transport and Oil Costs Rise

Airline representatives in discussion in Venezuela. (@RMarcoTorres)

Yesterday Venezuelan Air and Maritime Transport Minister, Herbet Garcia Plaza, announced the government had reached an agreement with representatives of leading international airlines to regulate the cost of air travel to and from the country.

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Political Violence Stokes Inflation in Venezuela, Says Central Bank

The BCV has warned that inflation could continue to rise, following a four month high of 4.1% increase in March. (Archive)

Venezuela’s central bank has blamed political violence for the highest monthly inflation rate in four months.

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On Respect for Facts about Venezuela in the UK Guardian and Elsewhere

(Julian Simmonds)

It took a lot of prodding but I finally got the UK Guardian to correct an error in an article about Venezuela by Virginia Lopez. She had written that anti-government protesters were venting their rage at, among other things, “hyperinflation”.

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