The annual inflation in Venezuela reaches the record of 46.305% in June – Tucumán News – News Agency – Diario de Tucumán

Venezuela's inflation hit a record 46.305 percent in the 12 months to June, according to data released Monday by the opposition-controlled National Assembly.

10/07/2018 00:00

Parliament's measure is the only one that follows the hyperinflation that is going through the oil country for the first time in its history, since the Central Bank stopped giving data on price change for three years.

According to the report of the National Assembly, inflation accelerated in June and prices rose by an average of 128.4%, the largest monthly change since the beginning of the l & # 39; year. In May, it was 110.1%.

The data do not provide annualized comparative reports because the measure began last year.

The rise is even stronger in June in food prices, with an increase of 183%, for a strong impact on the population, especially among the poor who do not have enough to cover their basic needs and who are in the majority according to surveys prepared by a group of universities.

"This is by far the worst hyperinflation experienced by any country in Latin America," said deputy Ángel Alvarado. "There are already nine months of this tragedy and the government does not recognize the problem," he added.

The government of Nicolás Maduro, who was re-elected in May in a presidential election criticized by dozens of countries, pledged to take action to support the economy overwhelmed by a five-year recession years.

In recent months, Maduro has ordered the distribution of bonuses to families who have processed the so-called "country card" through the ruling party and increased the minimum wage four times until the end of the year. now this year.

Opposition lawmakers warn that these measures are financed by bolivars provided by the Central Bank of Venezuela to the state oil company PDVSA and that the strategy translates into more fuel for the fire of voracious inflation.

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