- The NGO pointed out that the most inflationary sector was transport, followed by services | Photo: EFE/ Rayner Peña R
Cedice Libertad’s Public Spending Observatory revealed that prices of goods and services in Venezuela increased by 51.87% in bolivars and 15.13% in dollars during June 2024 compared to the same period in 2023.
The most inflationary sector was transport, with prices increasing by 36.58%. Services followed with 33%, according to the report. IYear-on-year inflation in June 2023 and June 2024 reached 51.87%, which was published on Tuesday, July 17.
“The transportation sector was a segment whose variation in dollars was 0% for some time, but in 2024 there have been adjustments and price transparency, in national and foreign currency,” explained the non-governmental organization (NGO).
The variation in prices in each of the items
According to the report, this is the variation in prices for each of the items during the month of June:
-Food: 0.01% in bolivars and 0.17% in dollars
-Restaurants: 3.15% in bolivars and 3.07% in dollars
-Services: 1.32% in bolivars and -1.18% in dollars
-Recreation and leisure: 0.85% in bolivars and 1.02% in dollars
-Perfumery and personal care: -2.08% in bolivars and -1.92% in dollars
-Transport: 6.43% in bolivars and 6.61% in dollars
Inflation by city
Cedice Libertad indicated in the report that inflation in June was not significant, it was around -0.29% in bolivars and 0.05% in dollars.
“It should be noted that the imminent presidential elections did not cause prices to rise during the month of June,” the NGO said.
The cities analyzed by the report are Caracas, Valencia (Carabobo) and Maracaibo (Zulia) and the inflation data for each are as follows:
-Maracaibo: +2.55% in bolivars and +2.95% in dollars
-Caracas: -1.14% in bolivars and -0.85% in dollars
-Valencia: -2.39% in bolivars and -1.99% in dollars
Inflation in Venezuela during the first half of 2024
In July 2024, the Central Bank of Venezuela (BCV) indicated that The country accumulated inflation of 8.9% in the first six months of 2024. He also revealed that the consumer price index (CPI) was 1% in June.
The BCV indicated that the sector that registered the greatest increase in June was food and beverages (1.5%), followed by education services (1.1%), health (0.9%), clothing and footwear (0.8%), various goods and services (0.6%) and communications (0.6%).
These figures represent a variation of 1.4% with respect to the percentage increase in the CPI indicated by the Venezuelan Observatory of Finance (OVF), which recorded 2.4% inflation in June this year.
In the case of accumulated inflation in the first half of 2024, the OVF said it reached 18.1%. However, the NGO recorded a 1.5% decrease in the CPI in June compared to May, when the figure was 3.9%.
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2024-07-17 03:19:09
