The Credit cards they are becoming more and more useless in Venezuela by the elevated inflation and government restrictions, affecting people already struggling to meet their daily needs in the face of low wages, according to banking sources, analysts and consumers. The Venezuelan government, at a time when the economy was collapsing, tightened regulations on […]
Tag: Inflation in Venezuela
Protests return to Venezuela in the face of inflation that erodes wages
Hundreds of teachers marched through downtown Caracas on Monday, joined by nurses, retirees and other workers, to demand higher wages to compensate for the rapidly depreciating local currency. Workers organized at least 50 protests on Monday and more than 150 across the country in the past week, according to preliminary estimates by the Venezuelan Observatory […]
Inflation in 2022 exceeded 300% in Venezuela, according to private estimates
inflation in Venezuela it exceeded 300% in 2022, according to estimates released this Thursday by private organizations, referring to the lack of official figures. The NGO Center for the Diffusion of Economic Knowledge (Cedice) estimated accumulated inflation of 310.33% last year, with the food sector as one of the most affected, with price increases that […]