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Venezuela surges toward 60 percent inflation

Caracas (AFP) - Venezuela's annual inflation rate has surged toward 60 percent after a sharp jump in March attributed to violent protests that have left at least 41 people dead, the country's central bank said.

A statement on the bank's website reported that inflation in March rose to 4.1 percent last month, up from 2.4 percent in February, blaming the rise on the protests 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 in the 15 years since late president Hugo Chavez took over before being succeeded by his anointed heir Nicolas Maduro last year.

The central bank report, which was delayed by two weeks from its scheduled release on April 10, said food and drinks had seen the biggest price rise in March, climbing by 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 figures on its scarcity index, which measures shortages.

The last available scarcity index figure in January showed a shortage rate of 28 percent.