Venezuela surges toward 60% inflation

Venezuela's annual inflation rate has surged toward 60 percent aftera sharp jump in March attributed to violent protests that have left at least 41 peopledead, the country's central bank said.A statement on the bank's website reported that inflation in March rose to 4.1percent last month, up from 2.4 percent in February, blaming the rise on theprotests over rampant crime, inflation and shortages of essential goods."Rampant street violence affected the normal performance of the productive forces,trade, distribution and overall national economic life," the bank said Thursday,describing the actions as part of an "economic war."Inflation now stands at 59.3 percent, against 57.3 percent in February, a record inthe 15 years since late president Hugo Chavez took over before being succeeded byhis anointed heir Nicolas Maduro last year.The central bank report, which was delayed by two weeks from its scheduled releaseon April 10, said food and drinks had seen the biggest price rise in March, climbingby 6.1 percent compared to February.The bank also lowered its figure of gross domestic product in 2013 to 1.3 percent,against the six percent that had been forecast.For the second consecutive month, the central bank also declined to release figureson its scarcity index, which measures shortages.The last available scarcity index figure in January showed a shortage rate of 28 percent.