Surviving hyperinflation - here is how much money the Venezuelans spend on everyday items
Hyperinflation are the reality for Venezuelan people today. The inflation rate has already reached 83,000% and is predicted to top 1,000,000% by the end of 2018. Read on to find out what it’s like to survive hyperinflation every day.
Venezuela wasn’t producing enough goods until 2014.
After the shortfall, it became impossible to import goods at the same level.
Approximately every 26 days, the prices are doubling.
To buy everyday stuff, people have to carry huge piles of cash.
Not to carry large bags full of cash, more and more Venezuelans started using electronic transactions.
Economists believe that the new currency will soon face the same problems as the old one.
The shelves in the supermarkets are empty, and a lack of investment in the country infrastructure causes power cuts and water shortages in a lot of cities.
Lack of power and water have proven deadly in some of the public hospitals.
What else do you know about life in Venezuela today? What do you think about this situation? Do you think economic crisis in different countries can be predicted and prevented?
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