Venezuela entered a period of hyperinflation in November 2017.
Inflation last November in Venezuela, measured by the National Consumer Price Index (INPC), was 8.4%, making it the third consecutive month with a single digit figure, according to data released by the Central Bank of Venezuela (BCV).
The The highest price increase occurred in education services (22.4%), home equipment (12.2%) and miscellaneous goods and services (11.3%), according to the data published on the BCV website.
Inflation in October, always according to the central bank, was 6.8% and in September 7.1%.
Venezuela entered a period of hyperinflation in November 2017, which can be considered overcome after 12 consecutive months with price increases below 50% each month.
December 2020 was the last month in which the INPC registered an increase of more than 50%, specifically 77.5%.
According to BCV figures cited by specialized media, accumulated inflation reached 631.1% in December, while the interannual was 1,197.5%.
On the other hand, the Venezuelan Finance Observatory (OVF), an independent entity that brings together several economic analysts, reported last Tuesday that inflation was 6% last November.
The year-on-year price increase was 769% and 616.9% the accumulated until November. (I)
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