*Venezuela’s central bank (BCV) has released its latest consumer price index, putting monthly inflation in February at 1.2% – down from 1.7% in January. The BCV does not release figures for annual inflation. However, the independent economic think tank Observatorio Venezolano de Finanzas (OVF) released its own inflation estimate on 6 March, reporting that there was monthly deflation of 0.5% in February, down from its previous estimate of 4.2% inflation in January. This, on the OVF’s calculation, brought the annual inflation rate to 85% in February, down from 121% in January. The OVF primarily attributed this deflation, which it noted “had not been seen in many years”, to the appreciation of the Venezuelan bolívar against the US dollar and a reduction in food prices.
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