Inflation & Prices

Venezuela’s Inflation Accelerates for First Time Since January

Consumer prices rose 5.1% on the month in May: central bank
Communications and health care posted biggest monthly gains

The Prados del Este highway in Caracas, Venezuela, on Friday, April 14, 2023. The Caracas restaurant boom once hailed as a sign that the beleaguered economy was on the upswing has fizzled, with many businesses shutting their doors.Photographer: Gaby Oraa/Bloomberg

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By Fabiola Zerpa

June 19, 2023 at 6:24 PM UTC

This article is for subscribers only.

Venezuela’s inflation sped up in May, snapping a three-month slowdown despite signs of economic weakness and declines in activity.

Consumer prices rose 5.1% in May, according to data from the central bank released on Monday. Communications costs rose 13.1% on the month while health costs gained 7.5%, representing the biggest increases in the index.