23103656Venezuelans need 960 , 3 minimum wages to be able to buy a basic family basket in the country, enough to feed five people, whose value was US$ 446,459 in September, according to estimates released on Saturday (22) by the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas-FVM).
The independent entity explained that, with a minimum wage established by the Venezuelan government of 111 bolivars per month – about US$ 459 ,7 on average during the month of September – millions of workers and pensioners can only cover 3.4% of the cost of the basic family basket. The average for September means a drop of 2.8% compared to August, when the basket cost US$ 459, always in accordance with the Cendas-FVM.
23103656 By On the other hand, accumulated inflation in the first nine months in Venezuela was 111, 8%, according to estimates by the Venezuelan Finance Observatory, an independent entity made up of economic experts and former deputies. The Venezuelan currency has lost almost half of its value in the last few years 12 months, a devaluation that, despite being significant, represents an advance in relation to previous years, when the bolivar dropped to 50% in a single day.
