Venezuela: Inflation eases to seventh-month low in September amid Central Bank's contractionary policies
October 19, 2019
National consumer prices surged 52.2% from the previous month in September, up from August’s 34.6% month-on-month jump according to the trove of data released by the Central Bank of Venezuela (BCV) on 19 October. Thus, September marked the return of hyperinflation—as defined by monthly price increases of over 50%—following six months of more moderate price pressures. The print reflected a broad-based upturn, including a faster price increases for food and non-alcoholic beverages, alcoholic beverages and tobacco, and services.
Conversely, inflation eased for the seventh month running but still came in at a stratospheric 39,113% in September, down from August’s 58,561% and the lowest print in a year. Meanwhile, annual average inflation slid to 69,657% in October from 100,402% in the previous month.
Author: Nihad Ahmed, Economist