Venezuela inflation has cooled — but voters say they still can’t make ends meet
The government of Venezuelan President Nicolas Maduro has had some success in curbing sky-high inflation, yet workers say their salaries have not caught up.
The government of Venezuelan President Nicolás Maduro, who is seeking reelection on Sunday, has had some success in curbing formerly sky-high inflation, but workers say their salaries have not caught up with high prices for food and other goods.
That, combined with general frustration after years of economic malaise, could chill support for Maduro and help bring out the vote for opposition coalition candidate Edmundo González, said voters and analysts.
Venezuela had suffered six-digit hyperinflation for about four years, with the indicator reaching a heady 130,000%, eroding savings and making basic supplies scarce.
But annual inflation fell to around 50% over the last year as the government restricted credit, held the exchange rate steady and curbed public spending.
“We have decelerated (inflation) with the correct policies,” Maduro — who has been in power since 2013 — said this month when figures were published showing month-on-month inflation in June was 1%.
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