Venezuelan Inflation Reaches the Lowest Level Since 2012
President Nicolas Maduro visits productive projects in the state of Lara, June 6, 2024. Photo: X/ @infoelluchador
June 7, 2024 Hour: 2:59 pm
On Saturday, President Maduro stated that the Venezuelan economy has been growing year after year and slowing inflation.
On Friday, the Venezuelan Central Bank (BCV) published a report showing that accumulated inflation between January and May reached 7.8 percent, the lowest figure for that period in the last 12 years.
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On average, prices of products and services rose 1.5 percent in May, reflecting an improvement over April, when inflation was 2 percent.
“All measurements indicate that inflation continues to decline, a palpable result of the new economy and the efforts of all Venezuelans,” the BVC explained.
The inflation achieved in May is also the lowest monthly average in the last 20 years. This macroeconomic achievement was already announced on Saturday, when President Nicolas Maduro indicated that Venezuela has been growing year after year and slowing inflation.
In December 2021, Venezuela managed to overcome hyperinflation that began in 2017 as a result of the economic, commercial and financial blockade imposed by the United States and its allies against the Bolivarian Revolution.
On Thursday, President Maduro visited the Simon Planas municipality, where he participated in the launch of the Winter Planting Plan 2024-2025. “Venezuela is going to be a powerhouse in organic food production.
We will be highly valued in the world for producing healthy foods. We overcame the shortages induced by the economic war. And we did it with products from this miraculous land,” he emphasized.
Subsequently, In the state of Lara, the Bolivarian leader also approved new funding for entrepreneurs of the Great Mission Venezuela Woman and the Great Mission Venezuela Young.
Sources: EFE – BCV
teleSUR/ JF
