Friday, August 8, 2008

Venezuela's inflation hits 33.7 percent in July

Via the International Herald Tribune:
Venezuela's annual inflation has reached 33.7 percent in July in metropolitan Caracas.

Economist Abelardo Daza says inflation soared in the last 12 months largely thanks to a financial tax introduced last November.

He says May's elimination of the tax helped monthly price increases slow to 1.9 percent in July — down from 2.4 percent in June....MORE

Umm, that's still compounding along at 25%/annum.

Some recent headlines:

Baptist Press
Venezuela's Chavez pushes through 26 decrees

The Economist
The autocrat of Caracas

Climateer Investing
I'll hug King Juan Carlos I but I won't shut up, says Chávez

Hugo Chavez's basement apartment