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Venezuela confirms decrease in consumer price index

Caracas, Apr 7 (Prensa Latina) The Central Bank of Venezuela (BCV) has confirmed the decrease trend in the national consumer price index, with an month-on-month variation of only 1.4 percent in March.

The inflation rate was the lowest observed in the last 115 months, and was lower than the 2.9% reported in February, according to the report issued by the BCV and the National Institute of Statistics.

March turned out to be the seventh consecutive month with the consumer price index experiencing inter-monthly variations below 10 percent.

The accumulated variation at the end of the first quarter of the year was 11.4%, much lower than the 127.8% in the same period of last year, the Central Bank stated in a press release.

The sustained trend towards inflationary decrease in Venezuela was experienced in the sectors of communications, transportation, education, alcoholic beverages and tobacco, entertainment and culture, restaurants and hotels, rental housing, household equipment, health, among others, with lower rates in comparison to those in February.