The Venezuelan Observatory of Finance (OVF) reported that inflation in Venezuela reached 18.4% during the month of April, while the interannual rate was 172% and the accumulated of the year reached 63.1%.
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The main factor behind the increase was the increase in food, which experienced a 23.2%rise, followed by significant increases in the recreation (20%) sectors and restaurants and hotels (17.4%).
As for the underlying inflation, which excludes food and services prices, OVF reported a monthly variation of 15.87%, an interannual rate of 170.8% and an accumulated of 61.76% nationwide.
In Caracas, monthly inflation stood at 16%, with an accumulated of 56.7%and an interannual of 157.4%. In Anzoátegui, the values were similar: 16% monthly, 61% accumulated and 185% year -on -year. Nueva Esparta registered a monthly rise of 18.62%, with 66.3% accumulated and 176% year -on -year, while in the Zulia state the monthly inflation reached 17.49%, with an accumulated of 63.4% and an interannual rate of 170%.
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In addition to the prices rebound, the OVF highlighted a depreciation of the bolivar close to 25% compared to the previous month, which has directly influenced the value of the food basket, which reached 409 dollars, its highest level in recent months.
