The intention of this article will be to describe how the prices went wild, and what you could expect in a hyperinflation scenario. Perhaps softer, or perhaps worse, that is not possible to know for an amateur like me, not being an economist. But something similar to this is what could be expected in the real world, not in some hypothetical scenario of the theoretical economy..

For some reason that I will try to elucidate afterward, the salaries stopped being useful for buying anything other than food. The prices I will publish in our national currency, the Bolivar already were rounded by taking 3 zeroes by Uncle Hugo´s command. A few days ago, this was done…again, now by command of the bus driver, in an attempt to make the hyperinflation look less threatening. Go figure.

One Bolivar is worth 0.000020 USD. The minimum wage is $5.21 or 1.800.000 Bs for a month. Now, how could we expect someone to live under these conditions? It is entirely unexplainable to me that this has not generated massive riots…yet.

Here are the hyperinflation costs of basic items in Venezuela

Remember, many people are paid only 1.800.000 Bs for a month:

Vegetable oil 900ml. Bottle: 748.367 Bs

Cereal mixture for milkshakes: 900Grs can: 1.057.057 Bs

Wheat flour, 1 kg: 398.750 Bs

Cheese, 1 kg:  2.160.950 Bs (yes, TWO MILLION)

Chicken and Bacon: 2.299.500 Bs

395Grs Condensed milk w/sugar: 566.144 Bs

Oatmeal 400 Grs:  550.000 Bs

1 kg. Margarine: 747.000 Bs

1Kg Chocolate mixture for milkshakes: 2.060.000 Bs

Cheese (melted-for spreading) 300 Grs: 1.097.230 Bs

Black Olives 235Grs: 1.677.120 Bs

Ladies deodorant: 890.000 Bs

Insecticide 1 can: 900.000 Bs

Mayonnaise 910 Grs.: 955.000 Bs

2 toilet paper rolls: 399.974 Bs