Yahoo! Finance: Venezuela’s Surreal Prices

My brother just sent me this link. This is the most concrete example I’ve seen of what inflation can do to a country. It’s really hard to fathom unless you live here. Venezuela has one of the highest inflation rates in the world. To be brutally honest, it doesn’t affect me because my salary is not in the local currency. My friends who do get paid in the local currency…I don’t know how they make it every month.

I thought I learned the definition of hustling when I moved to NYC.

Nope.

That’s what people have to do here with inflation the way it is.

Check out this visual to help get a better grasp of the situation.

Update: Back in August, 2014 I spent 230 bolivares fuertes for a bottle of extra virgin olive oil. On October 14th I spent 1,075 Bs for a bottle of olive oil. I use EVOO (as a famous TV chef calls it) to cook AND to deep condition my natural hair. I had sticker shock (which kept me from buying a 990 bs bottle), but finally decided to bite the bullet out of vanity. I wanted to continue deep conditioning my hair, and I didn’t want to rely on the less healthy option of vegetable oil to cook all my food.

This is the epitome of inflation in Venezuela.

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2 thoughts on “Yahoo! Finance: Venezuela’s Surreal Prices

  1. Interesting… I lived in Brazil from 1989 through 1994, when hyperinflation was rampant. From the first time I visited there in 1988 until I returned to the US to live, inflation was 2.75 BILLION percent. You’re right. It is hard to fathom without living through it.

    In spite of my experiences in that turbulent period, I returned to Brazil to live in 2011. It’s a wonderful country, warts and all.

    • That inflation statistic is crazy! I honestly don’t know how people manage to survive with hyperinflation. To go from having hyperinflation to being an economic powerhouse in South America is no small feat.

      I completely understand why you decided to return. No country is perfect, and sometimes a place that we find beautiful is worth all of the trouble. I definitely want to return to Brazil before my visa expires. The country has such a fascinating history!

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