LatinNews Daily - 06 September 2023

In brief: Steep increase in Venezuela’s monthly inflation, says think tank

* The Observatorio Venezolano de Finanzas (OVF), an independent economic think tank, has calculated that monthly inflation in Venezuela reached 13.6% in August, bringing annual inflation to 422%. This was up from the OVF’s estimate of 7.2% monthly inflation in July, when it put the annual rate at 439%. The OVF stated that the monthly rise in August was the steepest recorded this year and that Venezuela is experiencing “a very pronounced acceleration of price increases”. According to the think tank, the steepest monthly price rises in August were for communications (+26.7%), renting (+10%), transport (+9.9%), education (+9.4%), and food (+8%).

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