See the Price of Few Items That Will Help Explain the Venezuela Crisis

Published : 8/21/2018

Crisis-stricken Venezuela is currently in the grip of hyperinflation, the worst case seen since Zimbabwe in 2007-09.

By the end of the year, the inflation rate is predicted to top 1 million percent, a staggering large number which the government have attempted to curb by slashing 5 zeros off of the national currency, the Bolivar, and introducing new notes.

For some time there will be a mix of notes in circulation, leading to confusing situations about the true price of items and making transactions a nightmare, particularly for poor Venezuelans who don’t have a bank account. These people have been forced to carry around huge piles of cash to buy even the most basic of household goods.

The prices in the below pictures are from the time the pictures were taken, the situation is so volatile they are likely to be very different now

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A 2.4 kg chicken is pictured next to 14,600,000 bolivars, its price and the equivalent of 2.22 USD

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A toilet paper roll next to 2,600,000 bolivars, its price and the equivalent of 0.40 USD

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A kilogram of carrots next to 3,000,000 bolivars, its price and the equivalent of 0.46 USD

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A package of pads is pictured next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD

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A package of diapers next to 8,000,000 bolivars, its price and the equivalent of 1.22 USD

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A kilogram of cheese next to 7,500,000 bolivars, its price and the equivalent of 1.14 USD

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A package of 1kg of rice next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD

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A bar of soap next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD

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A kilogram of meat next to 9,500,000 bolivars, its price and the equivalent of 1.45 USD

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A kilogram of tomatoes next to 5,000,000 bolivars, its price and the equivalent of 0.76 USD

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A package of 1kg of pasta next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD

Tags:Venezuela,hyperinflation

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