As Venezuela’s Inflation Surges, a Favorite Holiday Treat Is Out of Reach
- Hallacas cost as much as Venezuela’s monthly minimum wage
- International Monetary Fund sees inflation of 2,300% in 2018
Venezuela's PDVSA in Default
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Inflation in Venezuela is now so out of control that even one of the country’s most beloved holiday treats is beyond the reach of many this Christmas.
Caracas research group Cenda estimates the cost of a hallaca, a tamale-like snack, at 35,498 bolivars ($0.32 at the black market rate) this season. That’s a whopping 1,724 percent increase on last year. Just five of the meat-filled, cornmeal wraps cost the same as the minimum monthly wage.