In June, inflation picked up after nine months with single-digit rates, which has led the President’s government Nicholas Maduro a apply orthodox policies to try to curb rising pricesaccording to analysts.
The government’s strategy focused on exchange rate stability Through the increase by the Central Bank of the supply of foreign currency in cash in local banks, and the limitation of the expansion of credit and public spending.
With the variation of July, year-on-year inflation reached 137%, according to Reuters calculations based on figures from the Venezuelan issuer, and remains the highest inflation in the region.
High prices, together with de facto dollarization, have widened the wage gap between workers in the public and private sectors. A minimum salary is equivalent to about 22 dollars.
The accumulated inflation in seven months was 48.4%according to official information.
The sectors that had the largest jumps in prices in July compared to the previous month were services of education with 12%, and leisure and culture with 10.8%, according to the issuer data.
Source: Ambito
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