Venezuelan Inflation Rate Tops 49 Percent

Friday, 11 Oct 2013 11:05 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

CARACAS, Venezuela — Venezuela's Central Bank says prices have risen nearly 50 percent since last September as the country struggles to rein in a quickening rate of inflation and widespread shortages.

Thursday's report says the consumer price index for September was 4.4 percent higher than the one for August and 49.4 percent higher than the one for September 2012.

The country's leftist government has spent heavily on social programs, rapidly increasing the amount of currency in circulation. It also tries to control prices while restricting access to bolivars at the official rate of exchange of 6.3 per dollar.

That leads many to pay seven times as much for dollars on the black market.

Officials say speculators are to blame for soaring prices and shortages.

The inflation rate for 2012 was 20.1 percent.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Venezuelan Army Has Good Most Citizens Denied

Monday, 29 Sep 2014 11:03 AM

Venezuela's national parade ground at the Fort Tiuna military base presents a scene that local civilians can only dream  . . .

Colombia Rebels Apologize for Killing Two Oil Workers

Monday, 29 Sep 2014 11:01 AM

Colombia's second largest guerrilla group, the National Liberation Army (ELN), apologized Monday for killing two workers . . .

Politican Shot Dead in Acapulco

Sunday, 28 Sep 2014 17:01 PM

Unidentified gunmen shot dead a prominent Mexican politician in Acapulco, authorities said Sunday.Gunmen executed Brauli . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved