Inflation records the highest jump since 1996

Prices went up 5.7% in April and May


Inflation in January-May hit 23%, according to the figures of the Central Bank of Venezuela. This is the highest increase during such period since 1996, even though the government of Nicolás Maduro keeps price regulations in place for a large number of goods and services.

Prices went up 5.7% in April and May. Therefore, inflation in the last 12 months averages 60.9% and there is no sign of prices going down in the absence of good news on demand, supply, and foreign currency performance.

In January-May, the price of food and non-alcoholic beverages soared 29.6%; household goods 13.4%; apparel and footwear 15.2%; and health care 17.8%.

Meanwhile, the central bank reckons inflation is not economically driven. In its report, it states, “April-May were affected by political conflicts taking place in several main cities of the country, which somehow compromised production, distribution, and trade of consumption goods and services.”

Since you’re here …

… we have a small favour to ask. More people are reading the Today Venezuela than ever but advertising revenues across the media are falling fast. And unlike many news organizations, we haven’t put up a paywall – we want to keep our site as open as we can. So you can see why we need to ask for your help. Updating reports on Today Venezuela takes a lot of time, money and hard work. But we do it because we believe our reports matter.

If everyone who reads Today Venezuela, who likes it, helps to support it by clicking our ads, our future would be much more secure. Do you part, click on an ad today.