Inflation & Prices
Chevron Dollars Cool Venezuela’s January Inflation to Decade Low
- US license has allowed Chevron to scale-up operations
- Presidential elections will test fiscal, monetary discipline
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After a stretch of hyperinflation that neared an estimated 2 million percent a year, Venezuela posted the smallest consumer price increase for January in more than a decade.
The monthly inflation print stood at 1.7%, the lowest rise recorded for the start of the year since 2012, reined in by a drastic cut in government spending and Chevron Corp.’s additional dollar supply. The feat marks the eleventh-straight month of one-digit inflation and the smallest price jump since March 2022.