[ad_1]
According to the Speaker of the Legislature, Rafael Guzmán, on his Twitter account, at the end of the first half of the year, cumulative inflation had risen to 4,684.3%, while from June 2017 to the same month of this year, it recorded a growth of 46.305%, underlines the report.
"Behind these numbers, there are thousands of mothers and fathers who can no longer feed their children, who know that there is no salary that bears a price increase of 2 8% a day, that's why nurses are in the street workers and Corpoelec and university professors, "he observed.
In this regard, José Guerra, also a member of the Commission, said that this daily index is equivalent to "the inflation that Colombia and Chile have in a whole year," he writes in his account. of the social network.
Guzmán, for his part, insisted that the government's "incoherence" in economic matters is one of the most important factors in the hyperinflationary maelstrom, a process in which the country entered last November. when monthly inflation was observed 56.7%.
According to a survey published by lawmaker José Guerra, 83% of those consulted agreed on this percentage of inflationary increase.
According to reports issued by the legislature at the end of each month, inflation was 110.1% at the end of May.
Cumulative inflation recorded in May of this year was 2018 1,995.2% while the annualized value from May 2017 to May 2018 amounted to 24,571 %.
For the fifth month of the year, according to the same source, a price increase of 2.4% per day was recorded, which equates to an increase of 16.66 % compared to the June which recorded a rise per day to 2.8%.
According to the parliamentarians, to approach the situation with a positive outlook, it is necessary, in principle, to recognize the structural problem of the national economy, a question that the authorities refuse to understand. .
The Finance Committee of the National Assembly published a monthly report on inflation because they argue "due to the lack of official data by the BCV . "
In January of this year, inflation was 84.2%, according to the statistics shown in these reports; in February, he added 80%; by the end of the third month of the year 68%, in April 80.1% and in May, as already indicated, he added 110.1%.
Experts in the field such as Philip Cagan (1956) have established that any inflation rate that registers 50% or a higher percentage increases every month and when general prices increase by 500% This year, this economy is facing a hyperinflationary process.
Recall that the hyperinflation that crosses the country transforms the national currency into a dysfunctional unit because it does not conform to what it is created for: to be a unit of account , a means of exchange and a store of value.
Researchers at Johns Hopkins University, such as Steve Hanke and Nicholas Krus, have estimated the number of Venezuelan 57 documented hyperinflation in the world. This is the second hyperinflation of the 21st century, after Zimbabwe between 2007 and 2008, according to the indicators.
Source link
