{"id":121015,"date":"2021-05-02T12:40:14","date_gmt":"2021-05-02T04:40:14","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=121015"},"modified":"2021-05-02T12:40:16","modified_gmt":"2021-05-02T04:40:16","slug":"venezuela-triples-wages-but-still-not-enough-to-buy-food","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=121015","title":{"rendered":"Venezuela triples wages but still not enough to buy food"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img src=\"https:\/\/assets.nst.com.my\/images\/articles\/xdmanna_1619915489.jpg\" alt=\"Supporters of the Venezuelan government demonstrate against the economic sanctions imposed by the United States as they prepare to participate in a march to mark International Workers' Day, in Caracas. - AFP pic\"\/><figcaption>Supporters of the Venezuelan government demonstrate against the economic sanctions imposed by the United States as they prepare to participate in a march to mark International Workers&#8217; Day, in Caracas<\/figcaption><\/figure>\n\n\n\n<p>CARACAS, May 2 (NNN-AGENCIES) &#8212; Venezuela nearly tripled its minimum wage Saturday but inflation is so outrageous that that amount of money will not even buy a kilo of meat.<\/p>\n\n\n\n<p>Labor Minister Eduardo Pinate announced the raise to government supporters at a May Day rally in Caracas.<\/p>\n\n\n\n<p>The new monthly minimum wage is seven million bolivares, which is equivalent to US$2.50. A kilo (2.2 pounds) of meat in Venezuela costs about US$3.75.<\/p>\n\n\n\n<p>The once-wealthy oil producer is enduring its fourth year of hyperinflation and its eighth year of recession.<\/p>\n\n\n\n<p>Venezuela is now in the worst economic crisis of its modern history. Inflation is so bad that the everyday economy now works mainly in dollars.<\/p>\n\n\n\n<p>The government of President Nicolas Maduro is under international sanctions championed by the United States, which is pushing for his ouster and does not recognize him as the country&#8217;s legitimate president.<\/p>\n\n\n\n<p>Maduro has stopped announcing wage increases with much fanfare as was done in the days of his mentor and predecessor, the late socialist firebrand Hugo Chavez.<\/p>\n\n\n\n<p>In fact, this latest raise was not even published in the official government gazette. &#8212; NNN-AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CARACAS, May 2 (NNN-AGENCIES) &#8212; Venezuela nearly tripled its minimum wage Saturday but inflation is so outrageous that that amount of money will not even buy a kilo of meat. Labor Minister Eduardo Pinate announced the raise to government supporters at a May Day rally in Caracas. The new monthly minimum wage is seven million [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[208],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/121015"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121015"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/121015\/revisions"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121015"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}