Bored Panda works better on our iPhone app
Continue in app Continue in browser

The Bored Panda iOS app is live! Fight boredom with iPhones and iPads here.

Here’s How Much Money You Need To Buy Different Everyday Items In Venezuela (11 Pics)
Here’s How Much Money You Need To Buy Different Everyday Items In Venezuela (11 Pics)
User submission
5.8K

Here’s How Much Money You Need To Buy Different Everyday Items In Venezuela (11 Pics)

161

ADVERTISEMENT

Imagine that you go out for a meal, and by the time you have finished eating it, its price has doubled. That is the reality of hyperinflation, the result of printing too much money for the size of the economy, making cash essentially worthless.

Crisis-stricken Venezuela is currently in the grip of hyperinflation, the worst case seen since Zimbabwe in 2007-09. By the end of the year, the inflation rate is predicted to top 1 million percent, a staggering large number which the government have attempted to curb by slashing 5 zeros off of the national currency, the Bolivar, and introducing new notes. For some time there will be a mix of notes in circulation, leading to confusing situations about the true price of items and making transactions a nightmare, particularly for poor Venezuelans who don’t have a bank account. These people have been forced to carry around huge piles of cash to buy even the most basic of household goods.

Can you imagine having to pay millions for a roll of toilet paper, that has an actual value of around $0.40 USD? To give you an idea of what this actually looks like, Venezuelan photographer Carlos Garcia Rawlins took pictures of essential items like tomatoes and nappies, together with the cash needed to purchase them. Prices shown are from the time the pictures were taken, the situation is so volatile they are likely to be very different now. The images are shocking, and vividly illustrate the sheer scale of the grave economic crisis that hyperinflation has brought to this once wealthy nation.

ADVERTISEMENT

Scroll down below to check out the pictures for yourself, and for more information about the crisis in Venezuela, you can start with articles here, here and here. It is a complex situation that needs a deeper understanding than  simplistically declaring that ‘this is what socialism brings.’ Let us know what you think in the comments below.

RELATED:

    Crisis-stricken Venezuela is currently in the grip of hyperinflation

    A 2.4 kg chicken is pictured next to 14,600,000 bolivars, its price and the equivalent of 2.22 USD

    These pictures show how little the national currency, the Bolivar, is worth

    ADVERTISEMENT

    A toilet paper roll next to 2,600,000 bolivars, its price and the equivalent of 0.40 USD

    Those without a bank account have to carry around huge piles of cash to buy even the most basic of household goods

    A kilogram of carrots next to 3,000,000 bolivars, its price and the equivalent of 0.46 USD

    A package of pads is pictured next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD

    ADVERTISEMENT
    ADVERTISEMENT

    A package of diapers next to 8,000,000 bolivars, its price and the equivalent of 1.22 USD

    The prices shown here are from the time the pictures were taken, the situation is so volatile they are likely to be very different now

    A kilogram of cheese next to 7,500,000 bolivars, its price and the equivalent of 1.14 USD

    A package of 1kg of rice next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD

    ADVERTISEMENT

    A bar of soap next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD

    ADVERTISEMENT

    A kilogram of meat next to 9,500,000 bolivars, its price and the equivalent of 1.45 USD

    A kilogram of tomatoes next to 5,000,000 bolivars, its price and the equivalent of 0.76 USD

    ADVERTISEMENT

    A package of 1kg of pasta next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD

    Pressure is increasing on President Maduro to find a solution, as protests begin in the streets of Caracas

    Here’s what people had to say

    ADVERTISEMENT
    ADVERTISEMENT
    ADVERTISEMENT
    ADVERTISEMENT
    ADVERTISEMENT

    159Kviews

    Share on Facebook

    Explore more of these tags

    Gerda

    Gerda

    Author, Community member

    Read more »

    This lazy panda forgot to write something about itself.

    Read less »
    Gerda

    Gerda

    Author, Community member

    This lazy panda forgot to write something about itself.

    What do you think ?
    Ellis
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    This isn’t about socialism or communism, this is a humanitarian crisis. Imagine what it’s like to live in a place where the money you spend on a bar of soap is the equivalent of what you would spend two, three decades ago on an apartment or villa. It is incredibly sad and costing many peoples lives (but people rather ignore that fact and rather focus on talking political agendas).

    Hans
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    Besides, it is an example of incompetent leadership. Yet people like Erdogan in Turkey and Trump in the US interfere with the work of their central banks. Manipulation of what is governed by basic economic laws will eventually backfire, and it is always the population paying for it.

    Load More Replies...
    Ladies and Gentlemen
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    There is a documentary created on current situation in Venezuela by channel VOX, go watch it on YouTube. Its heartbreaking to see what is going on there.

    Claudio Goncalves
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    I'm currently living this hell, can someone please take me out of here? here is some prices updated Aug. 21, they might vary depending the state: 2.5 Kg Chicken - 30.000.000,00 Toilet Paper - 4.000.000,00 Diapers - 30.000.000,00 1 Kg cheese - 25.000.000,00 1 Kg Rice - 14.000.000,00 1 Kg meat - 28.000.000,00 1 Kg pasta - 7.000.000,00

    Night Owl
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    It's probably cheaper to use it as toilet paper, as wallpaper, as insulation etc. than to use it to buy these and similar things.

    Jelena Milosevic
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    This happened in Serbia in 90's... when your get your salary you have to spend it immediatelly, othewise tomorrow you can't buy even a pack of cigarettes

    Stannous Flouride
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    Chavez tried twice when he was an Air Force officer to start a military coup and failed. But he realized that he could just promise the poorest masses anything they wanted and he'd get elected. He's no more a a communist than John D Rockefeller was. He accepted lots of loans from the IMF and World Bank when the price of oil was at $100/barrel. But it was a bubble and as they always do, it burst. And the loans came with very strict strings attached. If the loans were defaulted on the banks could impose austerity measures including removing price supports that kept the prices of fuel, corn flour, and milk low. He used the money to hand out favors to his family and supporters and managed to take the richest country in South America into bankruptcy. His calling himself communist (and alliance with already dying Fidel Castro) labeled him as a US enemy, when in fact, he was just another greedy autocrat.

    Selahattin Olceroglu
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    The situation was almost the same in Turkey in the last decades of 20th Century and in the beginnng of 21st Century. For example, 1 USD equaled to 1.340.000 Turkish Lira (TL) in the year 2004. After taking over the job, Primeminister Erdogan (today, The President) strenghtened economy and increased the value of TL. Turkish Central Bank released New TL bills at the beginning of the year 2005 by deleting 6 zeros from old TL and equaled 1 USD to 1.34 TL. Although TL suffers some temporary hardships today (1 USD equals 6 TL at the moment) but I still recommend Venezuelan leaders and economists to review the success of Turkey and follow the same steps considering the economic facts peculiar to Venezuela. I believe they can succeed it in few years.

    Kath Leen
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    so the people there are basically millionaire?or rather billionaires...it is nice to see the figures with many zeros but to this extent, a few pcs of carrots or tomatoes? gees...

    Han
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    How heartbreaking :(

    Dan Weeks
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    I see only 2 solutions, and they have to happen together: Armed revolution and a conversion to Free Market Capitalism. The latter just may stave off the former....but the former may not result in the latter. I don't have much hope.

    Load More Comments
    Ellis
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    This isn’t about socialism or communism, this is a humanitarian crisis. Imagine what it’s like to live in a place where the money you spend on a bar of soap is the equivalent of what you would spend two, three decades ago on an apartment or villa. It is incredibly sad and costing many peoples lives (but people rather ignore that fact and rather focus on talking political agendas).

    Hans
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    Besides, it is an example of incompetent leadership. Yet people like Erdogan in Turkey and Trump in the US interfere with the work of their central banks. Manipulation of what is governed by basic economic laws will eventually backfire, and it is always the population paying for it.

    Load More Replies...
    Ladies and Gentlemen
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    There is a documentary created on current situation in Venezuela by channel VOX, go watch it on YouTube. Its heartbreaking to see what is going on there.

    Claudio Goncalves
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    I'm currently living this hell, can someone please take me out of here? here is some prices updated Aug. 21, they might vary depending the state: 2.5 Kg Chicken - 30.000.000,00 Toilet Paper - 4.000.000,00 Diapers - 30.000.000,00 1 Kg cheese - 25.000.000,00 1 Kg Rice - 14.000.000,00 1 Kg meat - 28.000.000,00 1 Kg pasta - 7.000.000,00

    Night Owl
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    It's probably cheaper to use it as toilet paper, as wallpaper, as insulation etc. than to use it to buy these and similar things.

    Jelena Milosevic
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    This happened in Serbia in 90's... when your get your salary you have to spend it immediatelly, othewise tomorrow you can't buy even a pack of cigarettes

    Stannous Flouride
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    Chavez tried twice when he was an Air Force officer to start a military coup and failed. But he realized that he could just promise the poorest masses anything they wanted and he'd get elected. He's no more a a communist than John D Rockefeller was. He accepted lots of loans from the IMF and World Bank when the price of oil was at $100/barrel. But it was a bubble and as they always do, it burst. And the loans came with very strict strings attached. If the loans were defaulted on the banks could impose austerity measures including removing price supports that kept the prices of fuel, corn flour, and milk low. He used the money to hand out favors to his family and supporters and managed to take the richest country in South America into bankruptcy. His calling himself communist (and alliance with already dying Fidel Castro) labeled him as a US enemy, when in fact, he was just another greedy autocrat.

    Selahattin Olceroglu
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    The situation was almost the same in Turkey in the last decades of 20th Century and in the beginnng of 21st Century. For example, 1 USD equaled to 1.340.000 Turkish Lira (TL) in the year 2004. After taking over the job, Primeminister Erdogan (today, The President) strenghtened economy and increased the value of TL. Turkish Central Bank released New TL bills at the beginning of the year 2005 by deleting 6 zeros from old TL and equaled 1 USD to 1.34 TL. Although TL suffers some temporary hardships today (1 USD equals 6 TL at the moment) but I still recommend Venezuelan leaders and economists to review the success of Turkey and follow the same steps considering the economic facts peculiar to Venezuela. I believe they can succeed it in few years.

    Kath Leen
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    so the people there are basically millionaire?or rather billionaires...it is nice to see the figures with many zeros but to this extent, a few pcs of carrots or tomatoes? gees...

    Han
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    How heartbreaking :(

    Dan Weeks
    Community Member
    7 years ago Created by potrace 1.15, written by Peter Selinger 2001-2017

    I see only 2 solutions, and they have to happen together: Armed revolution and a conversion to Free Market Capitalism. The latter just may stave off the former....but the former may not result in the latter. I don't have much hope.

    Load More Comments
    You May Like
    Related on Bored Panda
    Popular on Bored Panda
    Trending on Bored Panda
    Also on Bored Panda
    ADVERTISEMENT