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Weekly Report - 13 May 2010 (WR-10-19)
VENEZUELA: Chávez blames inflation on political plot
President Hugo Chávez blamed “speculators", intent on destabilising
his government ahead of key congressional elections in September, for a 5.2%
surge in inflation in April. Accumulated inflation for 2010 reached 11.3%,
meaning that annual inflation is likely to break through the 30% barrier. Chávez
reacted by creating a state owned import-export company to combat speculation,
and inflation, in distribution, but neither the imposition of price controls nor
the expropriation of traders accused of engaging in “speculation or hoarding"
have helped rein in inflation, exacerbated by the devaluation of the bolívar in
January.
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