Venezuela's inflation eased to a monthly 6.2pc in October, a third month of slowing price gains.
The consumer price index (CPI) eased from 8.4pc in September and 8.9pc in August from 19.9pc in July, the highest since it reached 32.6pc in January, the central bank reported Thursday.
On an annual basis, consumer prices rose by 377pc in October from a year earlier, compared with 466pc in September from a year earlier, down from about at 650pc in March, according to central bank data.
The slowing inflation is the "result of coordination between the executive branch and the Venezuelan central bank, together with progress in reestablishing fiscal balance, supported by fiscal discipline and the normalization of external flows and increases in tax collections," the central bank said in a statement.
"Inflation reported for October was the lowest in the last 24 months" acting President Delcy Rodriguez said on 3 November during a public event.
Monthly inflation was running at 4pc in October 2024, according to the central bank data.
Gasoline prices remain at subsidized prices of $0.50 per liter and diesel at $0.80 per liter.
The bolivar continues to weaken though at a slower pace against the US dollar. The official exchange rate ended October at about Bs895 to the dollar, compared with about Bs298 to the dollar at the start of 2026.
Meanwhile, in the parallel market the exchange rate still continues at about Bs1,000 to the dollar.
Venezuela's inflation accelerated sharply in January 2026 as the US military operation on 3 January to capture then-president Nicolas Maduro added to existing economic and political uncertainty.
Inflation had already been accelerating before the operation, amid persistent shortages of foreign currency and a widening gap between official and parallel exchange rates. Those currency distortions have remained an important driver of inflation, with changes in the bolivar closely reflected in domestic prices.
The central bank and the Ministry of Economy signed on 27 October an agreement which aims to reduce inflation for 2027 to the double digits and boost economic growth to 6pc for the next year.
