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LatinNews Daily - 17 June 2021

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In brief: Inflation continues to rise in Venezuela

* Venezuela’s central bank (BCV) has published its monthly consumer price index, which shows that monthly inflation reached 28.5% in May, bringing the cumulative inflation in the first five months of 2021 to 264.8%. The monthly inflation rate for May was 3.9 percentage points higher than the 24.6% recorded in April. The BCV reported that the highest monthly price rises in May were in ‘home equipment’ (63.4%), followed by the health sector (41.3%), education (36.1%), and food and non-alcoholic drinks (24.9%). Meanwhile, prices fell for alcoholic drinks, clothing, and communications. The BCV’s figures contrast with analysis by the independent Observatorio Venezolano de Finanzas (OVF), which put monthly inflation in May at 19.6%, which would represent a 13.8 percentage point decrease on the 33.4% monthly inflation that the OVF reported for April.