Venezuela's inflation in December up 3.5%; ends at 20.1% in 2012
The food sector recorded the largest raise in prices during the last month of 2012 as it grew 5.7%. Shortage, meanwhile, reached its highest point ever since early 2008, at 16.3%
The BCV said that inflation throughout 2012 stood at 20.1%, slightly higher than the number estimated by the central bank president (19.9%) in his year-end message.
The sector with the largest rise was food prices (up 5.7%). Transportation climbed by 3.3%, while clothing and footwear, and restaurants and hotels jumped 3.1%. Leisure and culture increased by 2.7%.
Regarding the shortage index in the Metropolitan Area of Caracas, the central bank said it increased to 16.3% in December – the highest level since January 2008, when shortage hit its highest level ever at 24.7%.
As Venezuelan deposits of public funds in Swiss bank accounts have been revealed, opposition Deputy Andrés Velásquez wonders whatever happened to the USD 500 million worth of CVG funds that turned up in coded bank accounts in Lebanon five years ago.