Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg News

Venezuela’s Inflation Rate Rises at Fastest Pace in 7 Months

November 04, 2011

(Updates with analyst quote in fourth paragraph.)

Nov. 3 (Bloomberg) -- Venezuela’s inflation rate, the highest of 78 economies tracked by Bloomberg, rose to a seven- month high in October on food and education costs.

Inflation, as measured by the national price index, accelerated to 26.9 percent, according to the central bank’s national price index, matching the median forecast of four analysts in a Bloomberg survey. Consumer prices rose 1.8 percent in October, the bank said today in an e-mailed report.

Venezuelan inflation is quickening as the government adjusts price caps on basic goods to avoid shortages ahead of next year’s presidential election, where President Hugo Chavez hopes to win a third six-year term. The government raised prices on milk and vegetable oil twice this year following a devaluation of the bolivar in January.

“The government perceives shortages as more damaging than actual inflation,” said Juan Pablo Fuentes, a Latin American Economist at Moody’s Analytics in Philadelphia. “People are used to inflation now, but they get mad when they can’t find goods.”

Consumer prices, as measured by the Caracas price index, rose 2.2 percent in October, the bank said.

--Editors: Philip Sanders, Robert Jameson

To contact the reporters on this story: Daniel Cancel in Caracas at; Charlie Devereux in Caracas at

To contact the editor responsible for this story: Joshua Goodman at

blog comments powered by Disqus