Venezuela: basic basket rises 9.7% in one month, according to an independent entity

The basic food basket in Venezuelaanalyzed for a family of five people, had a cost in October of 459.08 dollars, an increase of 9.7% compared to September when it was located at 446.83 dollars, according to estimates by the Center for Documentation and Social Analysis of the Federation of Teachers (Cendas-FVM), released this Monday.

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The independent entity explained that, last month, a family needed 15.30 dollars a day to purchase the food basket, calculated with the prices of 60 products, when the minimum wage – 130 bolivars – was then equivalent to 14.77 dollars a month.

The food sector that registered the greatest increase was milk, cheese and eggs at 16.5%, followed by sauces and mayonnaise with 11.2%, and fish and shellfish with 9.8%, always according to the Cendas-FVM.

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Likewise, accumulated inflation during the first ten months of the year was 142.6%, according to estimates by the Venezuelan Finance Observatory, an independent entity made up of economic experts and former deputies.

The Survey on Living Conditions (Encovi), released by the Andrés Bello Catholic University (UCAB) on November 10, revealed that 53.3% of Venezuelans live below the extreme poverty line, if this is measured by revenue, which is 14.7 percentage points less than last year.

The survey also shows that 81.5% -a percentage that also includes the above- are below the poverty line, which also represents a reduction of 8.5 percentage points compared to 2021.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.