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Venezuelans need 28 minimum wages to cover food expenses

Venezuelans need 28 minimum wages to cover food expenses

Venezuelans need 28 minimum wages to cover food expenses

The Venezuelans they need about 28.3 minimum wages to access the family food basket -calculated for five people-, whose value stood at 446.83 dollars in September, according to estimates by the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas -FVM), released this Saturday.

The independent entity explained that, with a minimum salary established by the Executive at 130 bolívares per month -about 15.7 dollars on average during September-, millions of workers and pensioners can only cover 3.5% of the cost of the family food basket. .

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The average for September means a decrease of 2.8% compared to August, when the basket cost 459 dollars, always according to Cendas.

Likewise, the accumulated inflation during the first nine months was 111.8%, according to estimates by the Venezuelan Finance Observatory, an independent entity made up of economic experts and former deputies.

In addition, the currency Venezuela it lost almost half of its value in the last 12 months, a devaluation that, despite being significant, represents progress compared to previous years when the bolivar was devalued by up to 50% in a single day.

The majority of Venezuelans over 55 years of age live in poverty, with problems accessing food, medicine or health services, among which some do not have relatives or institutions to support them, according to a survey presented in September by the NGO Convite .

Source: Elcomercio

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