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CARACAS, Thursday August 07, 2008 | Update
Inflation hit 1.9 percent last July, resulting in an accrued
rate over the first seven months of 2008 at 17.3 percent,
reported on Thursday the Central Bank of Venezuela (BCV).
The BCV monthly report said that for the second month in
a row, inflation slowed down. July numbers were lower as compared
to 2.4 percent recorded last June.
Based on the paper, price performance came together with
"a significant decline of the shortage index and increasing
diversity of products in the market," DPA quoted.
The report stated that the price slowdown was apparent in
some commodities, including rice, ready-cooked corn flour,
pasta, wheat flour, beef, poultry and vegetables.
The government decided to change its inflation rate for this
year, from 11 to 18 percent. The accrued inflation rate in
2007 accounted for 22.5 percent.
05:09 PM. Economy. If any country has cashed in on the Bolivarian revolution, that is Brazil, particularly the private companies of the southern neighbor. Over the past five years, it has been awarded contracts for works to be carried out in Venezuela for over USD 14 billion. This puts it as the first recipient of government-to-government contracts, that is, without bidding, since Hugo Chávez took office.
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