The financial Observatory, an opposition think tank in Venezuela, said in a press release today that the country’s Consumer Price Index rose last month by 6.7 percent month-on-month after rising the previous month by only 6 percent.
Bloomberg quoted a statement from the observatory to say that the annual inflation rate reached 362% last October, while the average inflation rate during the first 10 months of this year was 176.2 percent per annum.
The items with the highest monthly inflation rate last October were utilities, which recorded 9.8 percent, restaurants and hotels, 9.5 percent, and educational services, 8.3 percent monthly.
It is noteworthy that the inflation rate in Venezuela fell last September to 6 percent per month.
