Venezuela left the cycle hyperinflacionario in which it had been maintained since 2017 by accumulating 12 continuous months below the 50% inflation, after registering a 7,6 %, reported the central bank from that country.
(See: Inflation in Colombia would be low compared to other countries).
Venezuela entered November 2017 in a period of hyperinflation that is considered to have been overcome more than three years later, after the 12 consecutive months of 2021 with price increases below 50%.
The figure notified by the Central Bank of Venezuela (BCV) makes December 2021 the fourth consecutive month with a single digit figure, after inflation was 7.1% in September; in October, 6.8%; and 8.4% was recorded last November.
(See: Chile closed 2021 with inflation of 7.2%, the highest in 14 years).
December 2020 was the last month in which the Venezuelan National Consumer Price Index (INPC) recorded an increase of more than 50%, specifically 77.5%.
According to BCV figures cited by specialized media, inflation ended 2021 with a rise of 686.4%.
Until November, the year-on-year increase in prices stood at 769% and the accumulated increase at 616.9%.
According to the Venezuelan Finance Observatory (OVF), an independent entity that brings together several economic analysts, the behavior of prices in recent months responds to the “stability“who has maintained the exchange rate in the country.
However, during its balance sheet for the month of November, the OVF assured that this policy of stability resulted in a fall in international reserves.
(See: Inflation rises worldwide due to the effects of the pandemic).
“This policy of exchange rate stability was expressed in a fall in the liquid international reserves of the Central Bank of Venezuela (BCV) of 171 million dollars, as a result of the sustained intervention of the issuing institute in the exchange market by offering dollars in cash.“explained the NGO.
(See: How much was the real increase of the minimum after inflation of 5.62%).
EFE
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