Shortage in October near its peak in 53 months
Based on data recorded in September, shortage in October hiked 2.5 points
This figure is surpassed only by a 16.2% leap reported early in January. Meanwhile, the highest rate was recorded in 2008, at 16.3%. At that time, the indicator was slowing down after a historic peak (24.7%) in January 2008.
Shortage is measured by the BCV based on the National Consumer Price Index (INPC) with figures from Caracas, the capital of Venezuela. It is defined as the percentage of goods that cannot be found on the market regardless of their presentation.
When considering September data, it is evident that shortage grew 2.5 points. In other words, consumers found two and a half times fewer products in October with respect to September.
Economist and central bank's former research manager José Guerra explained that said increase in shortages is mainly due to the number of restrictions in the delivery of US dollars by the Foreign Exchange Administration Commission (Cadivi).
Translated by Jhean Cabrera
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.