The Price of a Cup of Coffee in Venezuela Is Up 285,614% in a Year
- Café Con Leche Index now running at 1.7 million percent
- Cup of coffee in Venezuela capital doubled to 400 bolivars
A customer buys bags of coffee and sugar at a stand in Caracas.
Photographer: Carlos Becerra/BloombergThis article is for subscribers only.
Instead of celebrating minimum wage hikes in hyperinflation-pummeled Venezuela, consumers now run as fast as they can to buy goods before the inevitable price increases.
In other words, higher wages are as much bad news as good news as they simply mean the printing press will run faster at the central bank and businesses will react accordingly.