Ration Cards, Block Long Food Lines as Inflation Rate in Venezuela Hits 60%
by Frances Martel 26 Apr 2014, 2:36 PM PDT
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The Bolivarian Socialist revolution has claimed the lives of 41 Venezuelans and forced thousands of others to suffer long lines in supermarkets for basic needs. While the political situation in the country remains dire, the economic situation continues to worsen: Venezuela’s inflation rate reached 60% this month.
According to Infobae, prices on common goods increased 4.1% in March, with rates increasing 59.4% between March 2013 and March 2014. The numbers are late because the Venezuelan government is late on reporting them — reporting March’s inflation statistics fifteen days later than the legal requirement imposed by the Chavista government on themselves. There is no indication that the individuals running the Venezuelan bureau of economic statistics will receive any punishment for delaying the release of such information.
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Wow, and don’t say it can’t happen here.
Inflation is a type of theft that can only happen with Gooferment fiat currency.
It hits the poor, those on fixed income, and the savers.
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