MercoPress. South Atlantic News Agency

Venezuela's inflation for April 2022 stands at 4.4%

Venezuela officially came out of hyperinflation in December

Venezuela's Central Bank Friday reported April's inflation had reached 4.4% in April, according to the National Statistics Institute (INE). The new figures were significantly higher than the National Consumer Price Index (INPC) recorded in March but still notoriously better than 24.% from April 2021.

With Friday's data, the accumulated inflation in the first four months of 2022 has reached 16.3%, the “lowest figure” for any month of April since 2014.

Venezuelan economic authorities also highlighted that it has been the eighth consecutive inter-monthly variation of a single digit, in addition to being the “third in a row below 5%” and the “lowest in the last 73 months”.

The inter-annual variation (April 2021-April 2022) stood at 222.3%, ”below that recorded in the previous month (284.4%)”.

Education prices went up in April by 15.2%, followed by restaurants and hotels (6.2%); leisure and culture (5.7%); food and non-alcoholic beverages (5.6%), household equipment (5.2%), and housing rental (4.5%).

Venezuela, which recorded a price increase of 130,060% in 2018, officially came out of hyperinflation last December by recording 12 months with a rate below 50%.