Archive for January 21st, 2013

Venezuela Inflation In One Picture

January 21, 2013


Venezuelans complain a lot about inflation. The December CPI was 3.3% for the month of December of which 5.4% was for Food and Beverages.

But nothing prepares you for it. I went out my first day, went to the Chacao “Mercado Libre”. On the way,  I bought El Nacional, then I got some peaches and finally a delicious Palmi Zulia chunk from Maracaibo.


El Nacional Bs. 9 US$ 2.1 at the official rate of exchange

Two Peaches Bs. 9.6 US$ 2.23 for two small peaches

405 grams of Palmi Zulia Bs. 38 US$ 8.8 per $

Total US$ 13.1

You may say: Who can buy or get $ at Bs. 4.3 per $.

Very few people, but tell that to the guy who makes the cheese or produces the peaches competing with imported fruit.

As for El Nacional, newsprint is largely imported at Bs. 4.3 per US$.