LatinNews Daily - 09 March 2023

In brief: Annual inflation rises sharply in Venezuela, says think tank

* The Observatorio Venezolano de Finanzas (OVF), an independent economic think tank established by the political opposition, has estimated that monthly inflation in February was 20.2%, down on January when the OVF estimated it to be 39.4%. However, the OVF calculated annual inflation to be running at 537.7% in February, up from its January estimate of 440%. It noted that prices were rising faster than the depreciation of the bolívar, which it said lost 11% of its value against the US dollar in February. According to the OVF, the steepest monthly price rises were for services (+156.3%), health (+15.8%), clothing and shoes (+13.5%), and domestic goods (+15.1%).

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