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Venezuela inflation at 30.7 pct in November
Reuters, 11.30.02, 2:41 PM ET
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CARACAS, Venezuela (Reuters) - Venezuela's
annualized inflation rose to 30.7 percent for the 12 months to
November, more than double the 12.7 percent it reported a year
earlier, the Central Bank said on Saturday.
Venezuela's monthly inflation was 1.6 percent in November
compared with 1 percent in the same month a year ago and 2.2
percent in October this year, the bank reported.
Accumulated inflation for November was 29.9 percent
compared with 11.6 percent a year earlier.
Battered by a bitter political conflict between President
Hugo Chavez and his foes, Venezuela is also struggling with a
sharp economic recession, rising inflation and a steep
depreciation of its local bolivar currency against the dollar
this year. The world's No. 5 oil exporter reported a 5.5
percent economic contraction in the third quarter of 2002.
Copyright 2002, Reuters News Service
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