Mon, May 28, 2012, 7:07 PM EDT - U.S. Markets closed for Memorial Day

Venezuela's inflation declines to 26 percent

Venezuela's annual inflation, the highest in Latin America, declines to 26 percent

Associated Press – Tue, Feb 7, 2012 3:21 PM EST

CARACAS, Venezuela (AP) -- Venezuela's Central Bank says the country's annual inflation rate has declined to 26 percent.

The Central Bank says monthly inflation of 1.5 percent in January was the lowest rate the country has experienced in eight months.

Annual inflation was down from 27.6 percent at the end of 2011.

The oil-producing nation has had the highest inflation in the Americas for six years running.

President Hugo Chavez's government and the Central Bank both predict inflation of between 20 percent and 22 percent this year. But some economists say inflation could turn out to be much higher, influenced by an expanding money supply and heavy government spending.

 

2 comments

  • adam
    adam  •  3 months ago
    Inflation is increasing because of Hugo Chavez's reckless spending. I wonder what is going to happen here in the US because of our spending habits...
  • Richard
    Richard  •  Wharton, New Jersey  •  3 months ago
    I do hope Sean Penn is reading this. Venezuela's inflation rate DELINED to 26% Wow!! That means that roughly every three years prices double. Now there is a society that is really helping the poor and disadvantage. Perhaps Mr. Penn should take his money down there and live. Within a short few years he could become one of the common people. I guess down there it is cheaper to use Venezuela's currency as toilet paper then to buy the real thing.
 Post a comment
 
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
Save List to Portfolio »
 
Sign-in to view quotes in your portfolios.

Trading Center

Yahoo! Finance on Facebook

  YAHOO! FINANCE ON TWITTER