Venezuelan state-run basic industries increase prices by 46.5%
This is the case of the Venezuelan basic industries in Guayana, northeast Venezuela, whose prices have been increased by 46.5%.
Entrepreneurs confirmed that Sidor adjusted prices up. They added that the price of the products paid prior to the devaluation but that have not been dispatched shall be recalculated based on the new forex rate, VEB 6.30 per US dollar.
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.