Statistics institute: Venezuelan Food Basket at USD 484.93 in December
The president of the National Statistics Institute noted that the increase did not represent a major impact as the minimum wage in December stood at USD 698.60
The president of the National Statistics Institute remarked that the increase did not represent a major impact on households as the legal minimum legal income (including both minimum wage plus food benefits) stood at USD 698.60 by December 2012," a press release states.
The rise in price was reported in wheat (27.4%), tomato (23.11%), hen eggs (12 units, 13.03%), onion (12.5%), chicken (12.09%), pre-cooked wheat flour (7.96%), sugar (6.13%), and coffee (5.74%).
Translated by Jhean Cabrera
Since the Venezuelan government imposed currency and price controls in 2003 property rights have been seriously affected, as the individual's freedom to acquire, use, enjoy and dispose of property has been severely restricted, according to experts.