Consumer demand holds up as inflation and FX pressure test the recovery
Vehicle sales and nominal bank credit remain expansionary, but the broader signal is less benign: monthly inflation accelerated to 13.5%, deposits contracted and the bolívar weakened on both official and parallel markets. Lower crude prices add pressure to the external-income outlook.
By the numbers
Inflation (MoM)
13.5%
+7.4 percentage points from 6.1%; 32.1% of the January 2023 peak
Total vehicle sales
5,683 vehicles
+16.6% from 4,872
Bank credit portfolio
VES 2,878.7bn
+1.1%; a new series peak
Bank system deposits
VES 4,712.1bn
-5.8%; 0.22% of the stated February 2026 series peak
Official FX rate
VES 764.35/USD
+0.41%; 101.0% of the August 7 peak
Venezuelan Merey crude
$71.13/barrel
-14.1% from $82.77
Companies & capital
Three Venezuelan state banks
Cleared to offer subsidized mortgages to earthquake victims.
What to watch
August 12, 2026
Deadline for the government and opposition’s initial dialogue push.
August 13, 2026
MultiMax is scheduled to open its 49th store, in Mérida.
Next official FX fixing
Watch whether official depreciation catches up with the faster-moving parallel rate.
2026 harvest seasons
Implementation details for controls on rice imports during domestic harvest periods.
Worth your time
- OFAC Issues and Updates Licenses for Venezuelan Energy and Mining
U.S. Treasury OFAC
- Venezuela’s Government and Opposition Set August 12 Deadline for Initial Dialogue Push
HuffPost España
- OFAC Opens Path for Services Supporting a Potential Venezuelan Debt Restructuring
U.S. Treasury OFAC
- Venezuelan Government and Opposition Open U.S.-Backed Transition Talks
AFP via Voz