LatinNews Daily - 07 July 2022

In brief: Steep rise in Venezuela’s inflation, says think tank

* The Observatorio Venezolano de Finanzas (OVF), an independent economic think tank established by the Venezuelan opposition, has said that monthly inflation in June stood at 14.5%, bringing annual inflation to 170%. Recent monthly figures from the OVF have shown inflation once again picking up in Venezuela after a period of stabilisation, with the think tank reporting monthly inflation of 4.4% in April and 10.1% in May. Official figures from Venezuela’s central bank (BCV) have been lower, with the latest BCV report putting monthly inflation in May at 6.5% and the annual rate at 167.2%. According to the OVF, the biggest monthly price increases in June were in communication services (+48.2%), household goods (+15.7%), and restaurants and hotels (+13.2%).

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