Inflation is the sustained and general increase in the prices of goods and services in an economy over a period of time. This means that, over time, the purchasing power of money decreases, as more money is needed to buy the same products and services. This freak It can be caused by various factors, such […]
Tag: hyperinflation
Venezuelans need 118 minimum wages to cover food expenses, according to NGO
A Venezuelan family of five needs 118.14 minimum wages to access the family food basket, whose value in July was US$ 502.27, according to estimates released this Monday by the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas-FVM). The independent entity explained that, while the minimum wage is established by […]
What was the MUC dollar and why did it disappear from the Peruvian economy?
the dollar of Single Exchange Market (MUC) was a currency, similar to the US dollar, that circulated in parallel in the Peruvian market. This currency was created during the government of Francisco Morales Bermúdez in 1977, through Law No. 21953. In a free market economy, the exchange rate is governed by the interaction of supply […]
Lotteries resurface in Venezuela with attractive prizes in dollars
William Goitía moves between the cars waving a fan of lottery tickets that he sells to drivers in Caracas. The jackpot: half a million dollars. At least three large lotuses have re-emerged in Venezuela in the last year and a half, driven by an informal dollarization that the government allowed as an escape valve in […]
The country that suffered the worst inflation on record and where prices doubled every 15 hours
Much is known of the inflation and how it can cause the prices of basic products to rise in a matter of hours. Hungary knows very well about this economic concept and suffered the worst inflation recorded in 1946. At its peak it reached 41,900,000,000,000,000%. Reason why every fifteen hours, the average prices doubled. The […]
Venezuela, at risk of falling back into hyperinflation?
The rate hikes inflation that Venezuela has registered in the last five months, until the end of 2022, at 305.7% year-on-year, according to independent estimates, arouses fear of falling back into hyperinflationa process that went through four years until the end of 2021 and that impoverished millions of citizens. The nation accumulates five consecutive months […]
Chavista regime in Venezuela increases the minimum wage from US$1.6 to US$28.9
Updated on 03/03/2022 08:40 pm The illegitimate president Venezuelan, Nicholas Maduroannounced that it will increase the minimum salary from 7 bolivars (US$1.6) to half a petro, a cryptocurrency promoted by his regime and which, in exchange, represents US$28.9, which means that the increase will be 1,705%. “You propose that the minimum wage, the base of […]
Venezuela comes out of hyperinflation but the pocket does not feel change
“Hyperinflation is over, but it will have been at home,” says Humberto Reco in a popular market in Caracas, not expecting prices to stop rising out of control as they have in the last four years. This 75-year-old pensioner resents in his thin body that Venezuela continues to be the country with the highest inflation […]
Christmas extra pay, a mirage for Venezuelan workers
The Christmas bonus, Christmas bonus or extra pay, once an economic relief for thousands of families in Venezuela, you have been left with a negligible amount of money in a country that suffers a hyperinflation galloping, for more than four years, which has destroyed purchasing power and has multiplied informal employment. The extra purchases or […]