Venezuela: 2008 Inflation Was 30.9%, an 11-Year High

Venezuela’s inflation rate reached 30.9 percent in 2008, an 11-year high, the central bank said Thursday. The rising price level is among the economic challenges facing President Hugo Chávez as the global financial crisis, and particularly falling oil prices, threaten to curtail growth. The central bank also said prices rose 31.9 percent in the capital, Caracas, the highest level since 1997, outstripping the 2007 figure, 22.5 percent.

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