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Venezuela's inflation eases slightly to 26.7 percent in October

From The Associated Press, November 5, 2009 - 12:30 AM

Venezuela's inflation eases slightly to 26.7 percent in October

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CARACAS, Venezuela (AP) - Venezuela's Central Bank says inflation eased slightly in October. The nation is still battling the highest consumer price gains in Latin America.

The bank says inflation fell to 26.7 — down slightly from 27.3 percent in September. Thursday's report says price gains eased in sectors including food and drinks, rent and education.

The bank adopted a new method of measuring nationwide inflation last year, making year-on-year comparisons difficult. But inflation in the capital of Caracas fell to 28.9 percent in October, down from 35.6 percent a year earlier.

Central Bank President Nelson Merentes said last month that Venezuela wants to close the year with inflation at 27 percent, down from 2008 last year.