Economy
Rising prices experienced by Caracas residents everyday was mirrored in the leap made by the capital city in the city ranking prepared by the Economist Intelligence Unit (EIU), of The Economist editing team. The index measures the cost of living in 140 sites around the world.

The aforementioned survey noted that the Venezuelan capital city is notable among the surveyed Latin American cities, as it is the most expensive in the region. In the latest measurement, Caracas went from the 35th to the 21st position, that is, 14 steps upwards. Between the two measurements there is a six-month interval, according to a Bloomberg report.

The ranking puts Caracas ahead of cities, such as Chicago, Los Angeles and New York, which hit 23rd in the ranking.

The survey measures the prices of 160 goods and services, including foodstuffs, alcohol and apparel. It dos not include store or residential rent.

The country's official numbers endorsed such results. According to the Central Bank of Venezuela, as of February, the Consumer Price Index in the Caracas Metropolitan Area accrued an annualized variation of 29 percent. Only between January and February 2009, the variation in the prices of goods and services stood at 3.9 percent.