Lights on…! (por ahora)

Hugo Chávez just announced the suspension of enforced blackouts across the country. The rationing scheme was triggered by Venezuela’s electricity crisis. The suspension coincides with an increase in the reservoir levels in the country’s main dams…but also just happened to come a day ahead of the World Cup. Coincidence? Nah… Good news notwithstanding, don’t get…

Dando bandazos…

By my watch, it’s 6:23 a.m. in Caracas. The Central Bank’s new solution to all our Forex woes – the  "Transaction System with Foreign Currency Assets" (SITME) – is supposed to go into operation in just over two and a half hours. And they still haven’t published the "bands" – the upper and lower limits on…

Annualized May Food Inflation: 47.6%

INE’s May inflation report is out now. The headline number, 2.6% is a lot better than April’s, but still high: on an annualized basis, it’s still-climbing, and now over 30%. More politically sensitive than the headline number is the food category, which INE has on 3.3%, or a staggering 47.6% on an annualized basis. Is…

May Inflation Number: Cesnared! (UPDATED)

You know how, normally, each months’ inflation figures get published on the first working day of the following month? Right. Did anybody else notice that we’re eight days into June already and the May inflation numbers still aren’t out? Sure, Elías Eljuri talking airy non-sense about his hopes and dreams, that we’ve got. But an actual…