Cost of basic basket has increased 46.6 percent in a year (venezuela)

[naaman fletcher]

Minimum wage only covers 47.3 percent of basic food basket in Venezuela
Cost of basic basket has increased 46.6 percent in a year


Economy
"Food prices have technically increased prices by 50 percent compared to a year ago (...) This means that Venezuelan families require 2.1 minimum wages to cover the cost of food," Oscar Mesa, director of the Center for Documentation and Social Analysis (Cenda), said
The price of the basic food basket rose 46.6 percent in the last twelve months and doubles the minimum wage in Venezuela, said on Thursday the head of the Center for Documentation and Social Analysis (Cenda), a private research institute.

"Food prices have technically increased prices by 50 percent compared to a year ago (...) This means that Venezuelan families require 2.1 minimum wages to cover the cost of food," Cenda's director Oscar Mesa said, as reported by AFP.

The cost of the basic food basket amounted to VEB 2,588.61 (USD 602), that is a 46.6 percent increase compared with the same month of 2009.

http://english.eluniversal.com/2010/09/10/en_eco_art_cost-of-basic-basket_10A4450931.shtml

Not a good thing for the poor.