Inflation recorded in August is the lowest this month since 2012

Published at: 09/09/2024 07:39 PM

This Monday, the Central Bank of Venezuela (BCV) published the National Consumer Price Index (INPC) for the month of August, which stood at 1.4%, representing the lowest record this month since 2012, which stood at 1.1%.

This indicator is 6% lower than that registered in August 2023 and 74.6% lower than in August 2018, which ranks as the one with the highest inflation rate during the country's hyperinflationary crisis after the imposition of unilateral coercive measures against Petrleos de Venezuela S.A. (PDVSA), which resulted in a 99% drop in the country's revenues.

The highest issuer highlighted that the cumulative amount in the second quarter of 2024, which stands at 4.6%, is the lowest since 2000 when it registered 4% and the second with the lowest increase since 1985 when it marked 1.3%.

“The clear progress in price stabilization is the palpable result of the new economy and the efforts of all Venezuelans, since the Venezuelan economy has not enjoyed external financial support, nor access to its own resources abroad to return to stability. Quite the contrary, this progress has been achieved in a context of economic siege resulting from the criminal sanctions imposed on the Republic and its People”, highlights the BCV.

Mazo News Team