Venezuela's inflation rate stands at 1.5% in January
Government sources reported the economic data. The Central Bank of Venezuela is expected to provide more details throughout the day
Venezuela's inflation rate slowed to 1.5% in January from 1.8% in December, a government source told Reuters on Tuesday.
The Central Bank of Venezuela (BCV) is expected to announce the official inflation rate in the course of the day.
"This is the best performance in January in the last three years," said the source, who asked not to be named because he is not authorized to speak to the media.
Venezuela recorded the highest inflation rate in the hemisphere in 2011, at 27.6 percent, and economists expect it to be equal or even higher in 2012, when President Hugo Chavez will seek reelection, Reuters reported.
However, the government has said that inflation will amount to 20%-22%, which is the goal set in Venezuela's 2012 budget.
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