Political crisis triggers inflation in Bolivia in November

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LA PAZ (Sputnik) – Bolivia registered in November, month of serious political and social convulsions, the highest monthly inflation so far this year, 1.11%, which triggered the annual index to 3.41%, reported the National Institute of Statistics (INE).

The positive variation of 1.11% recorded in November was mainly due to the increase in the prices of food, alcoholic and non-alcoholic beverages, food and beverages consumed outside the home, transport, tobacco and health, "the INE said in its monthly report. of the Consumer Price Index (CPI).
The inflation index measured in 12 months approached the annual maximum of 4% that had been foreseen by the Government of Evo Morales, which abruptly ceased on November 10 and one of whose priorities was inflation control.
In 2018, annual inflation in Bolivia was only 1.51%, one of the lowest in the continent.

The political and social conflicts initiated in October and which reached their maximum intensity in almost all of November, they included blockades of roads and streets that interrupted the supply by land of food and various inputs and industrial products.

November inflation was the only one higher than 1% so far this year, in contrast to price stability, including three-time deflation, which characterized the Bolivian domestic market in the months prior to the fall of Morales and his relief by de facto president Jeanine Anez.

A year earlier, November 2018, inflation rates had been 0.26% in the month and 1.5% in 12 months.
The Minister of Productive Development, Wilfredo Rojo, said last week that the economic difficulties of the last two months of the year were "the price to be paid" for the change of government, which he defined as "recovery of democracy" after almost 14 years of Morales in power.

He also noted among these difficulties the forecast that the growth target of 4.5% would not be met of the Gross Domestic Product set by the previous Government.

The National Chamber of Commerce has projected that the growth of the Bolivian economy in 2019 would reach 3.2%, due to recent conflicts.



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