Cost of the basic food basket in Venezuela is equivalent to almost 20 minimum wages

A family of five in Venezuela needs 19,94 monthly minimum wages so that you can purchase the basic food basket, which during the month of June had a cost of US$ 459,84 (about BRL 2.593 ), according to calculations revealed this Thursday (18) by the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas-FVM).

According to the independent entity, the basic food basket, composed of 60 essential products, increased US$ 299,38 (about R$ 883) compared to June last year, when it cost US$ 650 ,26 (about BRL 1.650).

However, its price in foreign currency, during the last month, had a decrease of -3.7% in relation to May of 2022, when it was close to US$ 477,52 (about R$ 2.630).

However, when doing the calculation in local currency and due to the increases registered in the value of the dollar in relation to the bolivar, in June, the basic basket had a cost of 2.593,47 bolivars, an increase of 5.1% compared to the month of May, when it cost 2.468,76 bolivars.

The item with the highest increase was that of fats and oils, with a variation of 18, 6%, followed by cereals and derivatives, with an increase of 18, 1%, and coffee, which increased 16,9%, always according to Cendas-FVM data.

Last week, dictator Nicolás Maduro assured that the Venezuelan economy grew “double digits in the first half of the year”, although he did not specify the figure, arguing that this task falls to the Central Bank of Venezuela (BCV).

The BCV does not publish data on economic activity has fallen since the first quarter of 2019, when it reported that the Gross Domestic Product (GDP) fell 26,8% compared to the same period of 2018.

According to calculations by the Venezuelan Finance Observatory (OVF), an independent entity composed of financial experts, the economy grew 7.8% in the first quarter of 2022 compared to the same period of 2021, mainly due to the increase in oil activity.

Back to top button