(MENAFN) Venezuela confirmed that its economy has entered recession, contracting for three consecutive quarters from January through September, AFP reported.
Meanwhile, the South American's inflation rate hit 63.6 percent in the twelve months to November. The inflation rate hit a monthly rate of 4.7 percent in November alone.
The country's oil giant's economy contracted 2.3 percent in the July-September quarter, after contracting 4.8 percent in the first quarter and 4.9 percent in the second one.
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