CARACAS, Venezuela (AP) -- The government of President Hugo Chavez is proudly reporting that inflation is slowing, but Venezuelans are still struggling with Latin America's highest rate of annual inflation.
Finance Minister Ali Rodriguez says monthly inflation dipped to 1.8 percent in August -- down slightly from 1.9 percent in July. Inflation hit 3.2 percent in May.
Rodriguez noted Thursday that consumer prices have dropped for three months in a row.
Meanwhile, central bank reported that accumulated inflation from January to August was 19.4 percent, putting Venezuela on track to finish the year with annual inflation of 27 percent -- or more.
Annual inflation reached 22.5 percent last year -- the highest rate in Latin America.
Some analysts predict that annual inflation could hit 30 percent.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.