The government controls prices for imported essentials such as food and medicine, and the following examples show the result:
|Bag of dry dog food = $316|
|iPhone 5 = $14,127|
|Jar of instant coffee = $190|
So much for lifting up the oppressed worker class!
Furthermore, the rate of inflation in Venezuela is 68%, and the rate of exchange is 6.3 bolivares to $1. The minimum wage at that rate is approximately $890/month.
Recent video posted by the BBC:
Please read THIS ARTICLE. Worth your time.
Beware of all who promise any version of an earthly utopia. It is the Road to Serfdom.