Venezuela’s Monthly Inflation Drops to Lowest Level in 19 Years

[BayCityProgressive]

http://www.venezuelanalysis.com/news.php?newsno=2259

Paraguaná, April 3, 2007 (venezuelanalysis.com)— The anti-inflationary policies of the Venezuelan government have lowered the inflation rate for March, according to an announcement made by President Hugo Chávez yesterday. The final rate for the month of March was - 0.7%, the lowest in 19 years, thanks to government policies such as the reduction of the value-added tax.

The announcement came during an economic meeting with ministers and the Executive Cabinet in Miraflores on Monday. President Chávez congratulated the government for the success of the policies and gave special recognition to the Minister of Food, Rafael Oropeza, for his work in the state food company, Casa, and its network of food markets, Mercal.

"A well-coordinated and well-executed plan has to give positive results," said Chávez. He stated that the low inflation rate is a "triumph of everyone and for everyone," since inflation is a "problem for everyone, for those of us in the government, and also for the communities and for the private sector."

[sabbat hunter]

1. i wonder

how much of that low inflation is also due to government subsidies.

if inflation is -.7% savings interest rates are probably also very low, as are wage increases.

additionally what would have the inflation been if the government didnt reduce the VAT

i would like to know the entire picture.

[BayCityProgressive]

2. Not sure

under Chavez it has been lower than in the previous administration, but still regarded as high. I am sure price controls on certain goods have a lot to do with it.

[UTUSN]

3. As his future dominoes-playing partner said,

"If this were a dictatorship, it would be a heck of a lot easier, just so long as I'm the dictator."

December 18, 2000

[BayCityProgressive]

4. what does you accusing

Chavez of being a dictator (totally unfounded) have to do with inflation or this story? You people pop up on any thread though I suppose. Funny that I never see the same people lament the fact our "President" failed to be elected twice, or at least not with the same venom as against Chavez. Disagreeing with him on a policy is one thing, but accusing him of things that just aren't true is a quick way to get you brushed off by most Duers who would rather have discussions and not just flame posts.

[UTUSN]

5. "You people" - well, YOU spam the board with Hugo propaganda!!1 n/t

[BayCityProgressive]

6. LOL

yup I am just busy spamming this board with propaganda all day...Hugo will throw me in a gulag if I don't get at least 40 threads about Venezuela up a day. :rofl: