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The Permanent Commission on Finance and Economic Development of the National Assembly presented this Wednesday the update of the National Consumer Price Index for the month of June 2020.
“The data we have for inflation in June is that it was 19.5%, that is, it grew with respect to the previous month,” said Representative José Guerra.
#8Jul | La @comision_fde de la #AsambleaVE presenta el Índice Nacional de precios al consumidor del mes de junio.#GestiónAN pic.twitter.com/dioIzJBRbH
— Asamblea Nacional (@AsambleaVE) July 8, 2020
In this regard, Guerra stated that inflation for the first six months of the year was 508.47%.
Meanwhile, year-on-year inflation peaked at 3524%
According to Guerra, the fiscal policy of Nicolas Maduro’s dictatorship continues to increase the prices of items, mainly food.
“The regime has a clearly expansive fiscal policy and this generates that increase in the price level, that is, this is accompanied by monetary expansion,” he said.
Likewise, the parliamentarian highlighted that “Venezuela’s accumulated inflation rate from January to June exceeds all Latin American countries. The result is a salary of $1.2, the lowest in the history of Venezuela.”
“We see that the accumulated inflation rate among all countries in Latin America reaches 25.0%, while Venezuela alone has an inflation rate of 508.5%,” he emphasized.
Finally, the member of the National Parliament stressed that “if we continue with these rates of devaluation of the bolivar we can see that inflation will grow much more”.
“At the end of June, PDVSA’s debt with the Central Bank is 25 billion dollars,” he ended.
#8Jul | Dip. @JoseAGuerra: “La inflación desde enero a junio se sitúa en 508,47%. La inflación por rubros vemos que aumentaron, los alimentos, sobre todo”. #GestiónAN
— Asamblea Nacional (@AsambleaVE) July 8, 2020
