Cumulative inflation in 2019 reaches 1579.2%

The president of the Finance Commission of the National Assembly, Alfonso Marquina, revealed that hyperinflation continued to grow in July, despite a slowdown in consumption that has caused the widespread malnutrition that Venezuelans are suffering.

“Inflation for the month of July reached 33.8%, with cumulative inflation of 1579.2% and year-on-year inflation of 264,872.9%. This represents an increase with respect to the month of June of almost 10 percentage points”, he said.

Marquina said that at present the milk consumption is only 3 liters per capita per year, this gives a reduction of 83%. In the case of beef consumption the reduction is 80%. While in terms of chicken and egg consumption the reduction is 70%.

“In 2015, the Venezuelan with the minimum wage was able to access 22 kilos of chicken, now with this minimum wage they can only access five kilos a month”, he said.

About this crisis, he pointed to the regime as the only culprit for implementing an import policy when PDVSA was at its best, but that today has left Venezuelans suffering from hunger.

“Today Venezuelans are producing 20% of what they consume”
“The crisis that we Venezuelans are experiencing has nothing to do with sanctions. The crisis has been generated by a policy of governments that put an end to national production”, he said.