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Venezuela's Inflation Rate Hit 19.9%

Business Insider - 30 Dec 2012 11:10
Venezuela's Inflation Rate Hit 19.9% * Price controls helped keep inflation in check * Currency devaluation seen spurring inflation in 2013 CARACAS, Dec 29 (Reuters) - Venezuelan inflation reached 19.9 percent in 2012, the central bank said in a preliminary estimate on Saturday, beating its official target thanks to strict price controls that business leaders say are unsustainable in the long term. The government of President Hugo Chavez has capped prices for a wide range of consumer goods, helping contain inflation that has tradit...
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