The Associated Press
December 05, 2008
CARACAS, Venezuela -- Inflation is slightly down in Venezuela, though the country is still coping with the highest official rate in Latin America.
Venezuela's Central Bank says annual inflation in metropolitan Caracas was 32.7 percent in November, down from 35.6 percent in October.
The Central Bank adopted a new method of measuring inflation earlier this year, measuring price increases in multiple cities. Inflation nationwide in November was 2.3 percent, slightly less than 2.4 percent in October.
The South American oil producing nation has been struggling to get a hold on inflation. President Hugo Chavez's government set a goal of 11 percent inflation early in 2008, then later adjusted its goal upward to 19.5 percent and 27.4 percent.