CARACAS (Reuters) – Venezuela’s inflation was 48% annually in 2024, the lowest in 12 years, Venezuelan President Nicolas Maduro told lawmakers in an annual speech to the National Assembly and other officials on Wednesday , just days after his inauguration for a third term. .
Maduro, whose nearly 12 years in power were marked by a deep economic and social crisis and mass migration, was sworn in for a third term on Friday, despite a six-month electoral conflict and international calls for him to step down .
The government has employed orthodox methods to try to curb inflation, which has reached triple digits in recent years, with some success. Inflation was 189.8% in 2023, according to the central bank. Maduro said this month that the economy grew 9% last year.
