Hundreds of thousands of Venezuelans have fled their country's economic and political turmoil for Brazil, Colombia, Ecuador and beyond over the past 18 months. Arguably the biggest problem facing Venezuelans in their day-to-day lives is hyperinflation. The annual inflation rate reached 83,000% in July, according to a recent study by the opposition-controlled National Assembly. Prices have been doubling every 26 days on average. This has resulted in many Venezuelans struggling to afford basic items such as food and toiletries. With small items like a cup of coffee costing a whopping 2.5m bolivars until recently, it also became increasingly difficult to pay for goods in cash. Until the currency's redenomination on 20 August, Venezuelans needed 25 of their highest denomination notes - the 100,000 bolivar bill - to pay for their caffeine fix.
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