Venezuela inflation surges to near 20% in July, central bank says

Aug 12 (Reuters) – Venezuela’s inflation reached 19.9% in July ​from the previous ‌month’s 13.8%, the central bank said on Wednesday.

The central bank ‌said ​that acceleration ⁠was temporary and ⁠driven by the impact of the deadly twin earthquakes ​which struck the South American country ⁠in ⁠late June.

In a ​brief statement, the bank ​said it expected the ‌inflation rate to decline in August after the ⁠earthquakes “disrupted the distribution of goods.”

With July’s result, year-on-year inflation ⁠stands ‌at 579.96%, ⁠according to Reuters ​calculations ‌based on figures ​from ⁠the central bank.

(Reporting by Mayela Armas; Editing by Daina Beth Solomon snd Sarah ​Morland)