The Mexican newspaper “Excelsior” said that Venezuela is recording a slight decrease in the inflation rate, but it is still among the highest in the world, noting that Argentina and Venezuela are among the five countries with the highest inflation rates in 2023.
The newspaper pointed out in a report published on its website that the inflation rate in food, goods and other products in Venezuela reached 182.9% between January and November this year, while experts predict that inflation in Argentina will reach 180% by the end of this year, and experts emphasize that there is still a need for more fiscal and monetary discipline.
Venezuela will probably end 2023 with its lowest inflation rate for the past six years, but this disparity in prices for goods, products and services is still 3 figures and competing to be the highest in the world, experts warn.
And although the variation of the last month of the year still needs to be added, the figure seems to be somewhat far from the official inflation for the whole of 2022, which is 234.1%. The Venezuelan government called this inflationary lockdown “good news”.
Venezuelan President Nicolas Maduro said: “I think inflation for this year will close below 234%. “It will be a big setback,”he said.
If this trend is confirmed, it will be the third lowest annual inflation rate in the last decade in Venezuela and the lowest since 2016.
However, the government of Nicolas Maduro announced optimism about its economy, and the president said weeks ago that inflation between January and September of this year was “the lowest since the third quarter of 2014”.
According to the World Economic Statistics data macro page, Zimbabwe recorded the highest accumulated inflation rate since January in the world, at 261.3%, followed by Lebanon (184.9%), Venezuela (182.9%), Argentina (148.2%), and Honduras, whose inflation rate has reached 9.8% since January, is the country with the highest inflation rate after Venezuela and Argentina in Latin America.
According to estimates by the government of Nicolas Maduro and international organizations, such as the Economic Commission for Latin America and the Caribbean and the International Monetary Fund, the Venezuelan economy will grow by at least 5% this year.
