Mérida, April 9th 2009 (venezuelanalysis.com)– Venezuela's monthly inflation dropped to 1.2% in March from 1.3% in February, the lowest registered since the National Institute of Statistics (INE) expanded the inflation measurement to include more cities, prices, and establishments in the beginning of 2008.
Continuing its general decelerationsince last year, inflation during the first quarter of this year was 4.6%, down from 7.1% during the first quarter of 2008.
The deceleration in March occurred in four of Venezuela's ten principal cities. Price inflation slowed in home furnishings, restaurants and hotels, transportation, the service sector, communications, clothing, and foods. Price inflation accelerated in alcohol and tobacco, rent, some utilities, and accelerated by 0.1% in health care services.
March's inflation rate brings the total inflation over the past twelve months to 25.1%. Monthly inflation peaked last May at 3.2%. Venezuela has set a goal of 15% inflation for the year 2009.