Caracas (Reuters) – Venezuela’s monthly inflation hit 6.2 percent in October, matching prices rose in September 28.7 % compared to a sharp slowdown. central bank.
The government of President Nicolas Maduro has reined in inflation through orthodox economic policies aimed at stabilizing the exchange rate, reducing public spending and raising taxes.
Annual inflation rate 155. 79%, the highest in Latin America, according to Reuters calculations based on central bank data.
The industry with the largest month-on-month price increase in October was education services, with an increase of 18. According to official figures, there was an increase of 3 percent and communications up 9.6 percent.
In September, as the government devoted more resources, the bolivar depreciated for several weeks and the price rose sharply, forcing the authorities to adjust spending and sell more cash in foreign currencies to local banks, analysts said.
Official policies restricting credit authorization lead some entrepreneurs to seek loans
High prices plus de facto dollars in some sectors , which has significantly widened the wage gap between public and private sector workers. The minimum wage is equivalent to about $15 per month and has not been revised since last March.
