LatinNews Daily - 11 December 2023

* Venezuela’s central bank (BCV) has updated its consumer price index, putting monthly inflation at 3.5% – down from the 5.9% rate which it reported in October. The BCV does not publish annual inflation figures, but independent economic think tank Observatorio Venezolano de Finanzas (OVF) estimated the year-on-year rate for November to be 286%. The OVF calculated monthly inflation in November to be lower than the figures put forward by the BCV, putting this at 1.8%, down from its estimate of 6.7% in October. Despite their different figures, both the BCV and the OVF agreed that the monthly inflation rate was the lowest recorded for November in recent years – according to the OVF, it was the lowest in seven years, while the BCV said it was the lowest in 11 years.