Deflation by Decree

Inflation in 2013 was “criminally induced, product of an economic war that aimed at taking our country to chaos,” explained yesterday President Maduro. However, thanks to the “economic offensive” of the government in the past weeks, he also believes that in the month of November prices should have been reduced by at least 5%.

“In November, according to our research, inflation should be minus 5% [-5%], because many products have been reduced by half. Will technicians from the Venezuelan Central Bank (BCV) and the National Statistics Institute (INE) realize what has been going on here and dear to go beyond technocracy and technology?” asked Maduro and further warned that officials of the BCV and INE should “go deeper and discover the phenomena of the economic offensive so that they can see [the truth].”

He also argued that his offensive against the economic war has generated “a new economic climate, but this can only be fully accomplished if society reacts and faces the harm that the trilogy of evil [opposition leadership] has done to the country. The People know who is really responsible for the economic war.”