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The
Banco Central de Venezuela (BCV) reports:
The Consumer Price Index
(CPI) for the metropolitan Caracas area rose 4.5% in September following
the 2.4% increase registered the previous month. The September
figure represented the highest rate this year and also was above the
increase reported in September last year (1.2%).
The
result of the month was the product of notable increases in the majority
of consumer goods and services prices. Particularly noteworthy were
the increases in the following categories: education services
(13.9%), communications (12.1%), transportation (4.7%), recreation and
culture (4.9%),
health (4.6%), household equipment (3.8%), restaurants and hotels (3.4%),
foods and non-alcoholic beverages (3.6%) as well as alcoholic beverages (3.4%).
The performance was attributed, principally, to the following causes: the
application of authorized telephone tariffs adjustments, seasonal
increases in the prices of education services, exchange rate depreciation
and the coming into force on 1 September of the value added tax (VAT)
reform, which raised the rate by 1.5 percentage points and eliminate prior
exemptions on some goods and services.
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