Macroeconomic Forecast Venezuela

February 2008 | Macroeconomic Forecasts

Venezuela's January inflation figure came in at 3.4% m-o-m following 4.4% and 3.3% in November and December. On a year-on-year basis, the headline rate rose to 24.1%, up from 22.5% in December, marking the highest rate in three years. We expected the rate to be high in January, despite some monetary tightening measures by the central bank, as price controls on food were softened and the redenomination of the bolivar caused businesses to round up prices of goods and services.

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