Venezuela inflation hit 56.2% in 2013: Officials

[Bacchus4.0]

http://www.presstv.ir/detail/2013/12/31/342905/venezuela-inflation-hit-562-in-2013/

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President Nicolas Maduro presented the figure on Monday, blaming the high rate on a “parasitic capitalist economy.”

The inflation rate for this year is almost three times as high as in 2012, when it reached 20.1 percent.

According to the central bank, the rising rate slowed in the last two months of this year after Maduro’s government ordered stores to cut prices.

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Analysts say the nation’s high inflation is a result of the country’s rigid currency and price controls that were imposed in 2003 by late president Hugo Chavez.