As reported by the central bank, prices in October shot up 1.7%
Sectors with the most rapid acceleration included education services at 3.5% and food and beverages at 1.7%
The BCV report states that accumulated inflation stands at 13.4%, the lowest level ever since the indicator started to be tracked, taking into account the whole country.
Likewise, based on the report, prices advanced 17.9% on an annualized basis. In this way, inflation for this year is expected to end behind the goal set in the domestic budget between 20% and 22%.
By October of last year, annualized inflation hit 26.9%, whereas accumulated inflation stood at 22.7%.
A breakdown of sectors found that education services sped up the most at 3.5%. Food and non-alcoholic beverages, with the highest profile in the index, gained 2.6% in October.
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.