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Inflation continues to be one of the biggest problems for Venezuelans, because the low wages they earn in bolivars prevent most of them from acquiring basic necessities: “the salary is not enough, we are starving, you have to have 3 jobs to In order to survive, you have to invent it. The salary is not enough at all, it is 5 dollars, some have to go out to ask, others go out to see what they can get on the street, sell coffee, cakes, used things from their house to survive, everything is very expensive,” denounced the worker of the public sector Georaxi Urbano.
According to the most recent report from the Venezuelan Finance Observatory, inflation in the last month was 4.2% and the annualized rate is 501%. Economist José Guerra, a member of the organization, affirmed that the country once again “flirts with hyperinflation” and for this reason advocates a fundamental change in the economic model: “change of economic model to lower inflation, bring it to single-digit levels such as international inflation, gradually and a plan to expand the economy to generate wealth, to generate new productive capacities and above all to improve the remuneration of Venezuelans”, he emphasized.
The vice president of Venezuela Delcy Rodríguez, during her speech at the recently held “anti-inflation summit” promoted by Mexico, said that they are designing policies to reduce it: “inflation in the food sector is the most pressing problem that the planet suffers, today the prices of food is at the second highest peak since 1960, food inflation is a third higher than general inflation and this increases poverty, deepens the social gap, inequality” he declared.
The International Monetary Fund estimates, according to its most recent report, that the Venezuelan economy will grow by 5% this year, with annual inflation of 400%, which keeps the Caribbean country with the highest price increase on the continent, followed by Argentina.
