Venezuelan shopping malls extend operating hours amid holiday season

Shopping malls in Venezuela have extended their operating hours for the holiday season since the end of November, reflecting robust consumer demand despite the country's heightened tensions with the United States.

According to an announcement from the Venezuelan Chamber of Shopping Malls, the closing time for shopping malls has been uniformly extended to between 22:00 and 23:00 to accommodate the surge in shopping during the period. The association said that this move aims to make it easier for consumers to complete their holiday purchases while also stimulating the year-end economy.

Data indicates significant growth in sales across categories such as textiles, footwear, electronics, toys, and perfumes during the season.

In recent days, many residents have chosen to dine out and go shopping at local shopping centers, immersing themselves in the festive atmosphere.

"The shopping center is seeing crowds of people flowing in, and I think it's great! Everyone is out buying clothes and other items," said a local resident.

"It's a great place to go for a walk and relax with family, and the cost won't be too high. Despite the challenging situation we are facing, shopping at the mall can really help take our minds off the worries and relieve stress," said another resident.

Amid the tense situation between the U.S. and Venezuela, customer flow and purchasing power at malls have declined slightly compared to previous years. However, overall operations have remained steady, and promotions such as holiday discounts have continued to boost consumer spending.

"This year's situation is slightly quieter than in previous years, with customer flow down a bit compared to 2024. However, as you can see, there are still plenty of customers in the store, and overall business conditions are good. So far, everything is going well, with a good flow of people. The overall atmosphere was calm. We currently have discounts of 10 percent and 20 percent," said a store manager in the shopping mall.

Venezuelan shopping malls extend operating hours amid holiday season

The U.S. consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data released by the U.S. Bureau of Labor Statistics on Wednesday.

Notably, the energy index for May increased 3.9 percent month on month, accounting for over 60 percent of headline inflation.

Gasoline and fuel oil prices increased 40.5 percent and 58.9 percent year on year, respectively, in May.

The national average price of gasoline reached 4.555 U.S. dollars per gallon on May 20, a 50 percent rise since the Iran conflict started in February, according to data released by the American Automobile Association. The price later eased to 4.151 dollars per gallon on Wednesday.

The core CPI, which excludes volatile food and energy prices, increased 2.9 percent year on year in May.

Statistics show that U.S. headline CPI for May rose 0.5 percent month on month, down from 0.6 percent in April, while core CPI increased 0.2 percent, compared with a 0.4 percent gain in April and below the market consensus forecast of 0.3 percent.

The report arrives at a critical juncture for markets and Federal Reserve policymakers. While the rate-setting Federal Open Market Committee is widely expected to hold interest rates steady at its June 17 meeting, policymakers acknowledged that the inflation surge caused by the Iran conflict will likely delay any rate reduction. The data are likely to reinforce this stance.

Oil prices rose while U.S. stocks traded lower in the morning session on Wednesday after U.S. President Donald Trump posted on Truth Social that Iran has "taken too long to negotiate a deal" and will "have to pay the price."

U.S. May CPI rises to highest level since May 2023