June Closed With Venezuela’s Lowest Inflation in 39 Years

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He also said that the first half of this year has been “great news” in terms of economic growth, without offering figures.

The president of Venezuela, Nicolás Maduro, during his program “Con Maduro”, said on Monday that June closed with the lowest inflation in 39 years, according to unpublished data from the Central Bank of Venezuela.

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“The month of June that closed yesterday was the month with the lowest inflation in 39 years in the Venezuelan economy, the economic miracle is taking place and is very important because it allows the family, the businessman, the entrepreneur plan with more certainty (…) I can not say the data because I will not tubear (remove the scoop) to the BCV,” said the president during his weekly television program.

He also said that the first half of this year has been “great news” in terms of economic growth, without offering figures.

“If we slow down and bring inflation to a minimum, if we maintain economic growth, if we increase investments and credits to entrepreneurs and have a system of sustained change (…) we are on the rails of developing an economic model, I said it will be the amazement of South America,” he added.

#EnVivo ???? | Transmisión de la Edición N° 52 del programa «Con Maduro +».https://t.co/uCHZ39c3Rr

— Prensa Presidencial (@PresidencialVen) July 1, 2024

Venezuela accumulated an inflation of 7.8% between January and May this year, the lowest figure for that period in the last 12 years, according to data released last June 7 by the BCV.

On average, prices of goods and services rose by 1.5% in May, reflecting an improvement compared to April when inflation was 2%.

“All measurements indicate that inflation continues to fall, a palpable result of the new economy and the effort of all Venezuelans,” the issuing entity explained in a short press release.

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