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

(Corrects year-on-year inflation in paragraph 4 to 575.9% ‌from 579.96%)

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 575.9%, according ​to ​Reuters calculations based on figures from the central ​bank.

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