Venezuela's inflationary challenges persist as the country's annualized inflation rate reaches nearly 430 percent, according to the Venezuelan Financial Observatory (OVF).
The OVF, an institution composed of economists and experts independent of the Central Bank (BCV), released an estimate indicating an average inflation rate of 399.98 percent for 2023.
However, the latest figures reveal a higher rate than projected, reflecting an ongoing inflationary trend despite efforts to stabilize the exchange rate.
In June alone, prices surged by an average of 8.5 percent, with notable increases observed in sectors such as services (19.5 percent), housing rents. . .
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