Monday, 28 August 2017

Banana republic indeed: inflation in Venezuela

Prices in a village in August 2016
These pictures from a village in the province, a place where food situation is much better - or less horrible - than in Caracas.

Prices in real life do not follow a linear function. Prices for perishable products that are seasonal tend to fluctuate a lot. Still, these pictures show you how dramatic things are getting. This is as good as it gets in Venezuela: you could get there a kilogramme of tomatoes in August 2016 for 450 Bs. Last month you had to pay 4000. Back then you could get one kilogramme of onions  for 800 and now you need to pay 3500. Back then a broccoli would set you back 700 bs. Last month you needed 6000 Bs. I do not have a picture from this month but the situation is much worse. Still, the overall for fruits and vegetables in the countryside seems to be less than 500% but this is one of the cheapest places in the whole region. As economics outside Stalin's imagination dictates it, chances are prices there will escalate as soon as more people find out about it.

If you are a taxi driver in a secondary city far away from Caracas, you get about 25000 to 30000 Bs a week. You can buy a kilogramme of meat with that.

Discussing this with government officials is pointless. They are beyond anyone, isolated in their mafia system, some still thinking they are some kind of revolutionaries.

Prices in the same place in July 2017, a few weeks before the farce election 

Prices for several vegetables and fruit in August 2016 and July 2017