INSUBCONTINENT EXCLUSIVE:
Venezuelan Financial Observatory (OVF).The OVF, an institution composed of economists and experts independent of the Central Bank (BCV),
released an estimate indicating an average inflation rate of 399.98 percent for 2023.However, the latest figures reveal a higher rate than
(Photo Internet reproduction)In June alone, prices surged by an average of 8.5 percent, with notable increases observed in sectors such as
services (19.5 percent), housing rents (6.9 percent), food and non-alcoholic beverages (7 percent), and transportation-related expenses (9.1
percent).Healthcare costs rose by 7.2 percent, while clothing and footwear increased by 7.8 percent.Education costs rose by 8 percent,
restaurants and hotels by 8.7 percent, and leisure expenses by 9 percent.These figures indicate a higher inflation rate compared to May when
it stood at 7.6 percent.It is worth noting that the BCV is the sole official source for inflation data in Venezuela.However, the frequency
of their reports remains irregular, leaving independent institutions like the OVF to estimate inflation trends.Venezuela continues to
grapple with significant inflationary pressures, impacting the cost of living and economic stability.
