REFILE-UPDATE 1-Venezuela inflation slows to 1.9 pct in October - News

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REFILE-UPDATE 1-Venezuela inflation slows to 1.9 pct in October

By: AFX | 05 Nov 2009 | 12:23 PM ET

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CARACAS, Nov 5 (Reuters) - Venezuela's consumer prices climbed 1.9 percent in October but were at their lowest monthly rate since June, the central bank said Thursday. Inflation has soared 20.7 percent in the first ten months of this year, four percentage points lower than the same period last year, the central bank said. In the past 12 months, consumer prices rose 26.7 percent. Local economist Pavel Gomez said October's figure may have been the lowest monthly rate since June, and down from September's 2.5 percent, but "even so, it is not a low figure." He added that extra end-year salary payments would exert upward pressure.

"December is a highly inflationary month." Venezuela's inflation rate, Latin America's highest, was 31 percent last year. The government has forecast 26 percent for 2009. On Monday, the head of Venezuela's central bank said inflation was his main concern, and he hoped it would be down to single digits in 2012. ((rebekah.kebede@thomsonreuters.com; Reuters Messaging: rebekah.kebede.reuters.com@reuters.net; 646 223 6057;)) Keywords: VENEZUELA INFLATION (For help: Click "Contact Us" in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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