By Oliver Levingston – Links International Journal of Socialist Renewal , Feb 10th 2014
This paper adopts a Marxian class analysis to dispute the orthodox critique of high inflation in contemporary Venezuela. It draws a parallel between the 2002-03 oil industry lock-out and the capital strike in the Venezuelan foodstuffs industry today. In each case, capital has suspended production to bid up the price of basic goods and create widespread shortages.
Inflation in Venezuela was high in November, but has also consistently decelerated since October. Nevertheless, President Nicolas Maduro said that next year the government will “revise” key aspects of the economy in order guarantee that it is “at the service of the people”.
By Luís Salas Rodriguez- Sur-Version, Sep 17th 2013
Venezuelan analyst Luis Salas argues that Venezuela’s problems with inflation and high prices dates back to the start of the petroleum economy, and that the state price regulations on certain goods can’t be attributed as a cause of such inflation, as many have suggested.
By Edmeé Benacourt - Últimas Notícias, Aug 16th 2013
Edmeé Benacourt, the former president of Venezuela’s Central Bank (BCV), explains to newspaper Últimas Notícias the measures the government is taking against inflation.The recent BCV president also predicts that the “economic war” being waged against the government of Nicolas Maduro will be defeated, and that the Venezuelan economy will continue growing throughout 2013.
Venezuela's monthly inflation rate has receded for the first time since February, and scarcity of consumer goods is down, according to the June report of the country's central bank. However, the annualised rate of inflation remains high.