INFLATION | Accrued National Consumer Price Index at 16%
Inflation in November smashes 2.3%
The item of food and non-alcoholic beverages is among the highest increase ( 3.2%)
Food is among the items that surged the most (File photo)
Tuesday December 04, 2012 12:22 PM
Inflation in Venezuela in November stood at 2.3%, according to data supplied by the Central Bank of Venezuela (BCV). This number is similar to that of November 2011, at 2.2%.
With this result, accumulated variation by November 2012 stands for 16%, more than nine percentage points below 25.4% the same term last year. For its part, annualized variation accounted for 18%, far below 27.6% the same term last year.
The item of food and non-alcoholic beverages was among the highest increase (3.2%) and below the 4.9% variation for the item of alcoholic beverages and tobacco.
In November, both items of entertainment and culture, and apparel and footwear recorded a 2.3% variation; household furniture and fittings varied at 2.2%.
Following a wave of nationalizations carried out by the late President Hugo Chavez between 2007 and 2012, Venezuela has become the second most frequent respondent to investment treaty arbitration in the world (38 cases in total), after Argentina.