Here’s How Much Money You Need To Buy Different Everyday Items In Venezuela (11 Pics)
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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.
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.
Crisis-stricken Venezuela is currently in the grip of hyperinflation
Image credits: REUTERS/Carlos Garcia Rawlins
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
Image credits: REUTERS/Carlos Garcia Rawlins
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
Image credits: REUTERS/Carlos Garcia Rawlins
A kilogram of carrots next to 3,000,000 bolivars, its price and the equivalent of 0.46 USD
Image credits: REUTERS/Carlos Garcia Rawlins
A package of pads is pictured next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD
Image credits: REUTERS/Carlos Garcia Rawlins
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
Image credits: REUTERS/Carlos Garcia Rawlins
A kilogram of cheese next to 7,500,000 bolivars, its price and the equivalent of 1.14 USD
Image credits: REUTERS/Carlos Garcia Rawlins
A package of 1kg of rice next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD
Image credits: REUTERS/Carlos Garcia Rawlins
A bar of soap next to 3,500,000 bolivars, its price and the equivalent of 0.53 USD
Image credits: REUTERS/Carlos Garcia Rawlins
A kilogram of meat next to 9,500,000 bolivars, its price and the equivalent of 1.45 USD
Image credits: REUTERS/Carlos Garcia Rawlins
A kilogram of tomatoes next to 5,000,000 bolivars, its price and the equivalent of 0.76 USD
Image credits: REUTERS/Carlos Garcia Rawlins
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
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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).
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.
It is about communism. If it wasn't communism country, it would have dealt with crisis. Communism is perfect system for perfect people living in perfect world. But world is not perfect, neither are people. So every communist country sooner od later will fail.
Scandinavia and many countries in Northern/Western Europe (Norway, Denmark, The Netherlands) have a very social system that is (falsely) compared to communism by some US politicians. Yet we work less hours a week, have more holidays, education and healthcare cost next to nothing, our unemployment rates are low, and we consistently rank among the wealthiest, healthiest and happiest nations on earth.
And you taxes are some of the highest.
Zimbabwe has hyperinflation, and the Turkish lira isn’t doing so well lately either. Yet neither of these countries is governed by a communist party.
No. It isn't a communist country. At most Venezuela is a mixed economy with anti-business government policies that distort markets and retard growth. The government intervenes with the process of capital accumulation and with market processes and creates a negative and uncertain atmosphere for business in the name of fighting corruption and serving the needs of “the people”. The dynamic of capital accumulation still drives economic activity, most enterprises are privately-owned and profit seeking, the the wage-labour relationship is still in place.
I'm not saying communism isn't bad. I have many friends from former Soviet countries and all are happy to not live under communist rule anymore. That being said, shitty economies happen everywhere as a result of power-hungry, greedy politicians and fucked up systems - communism doesn't hold exclusivity to having selfish assholes in high ranking government positions.
@Monilip: Yeah, I see what you mean. Communism is so much different from socialism. But seems people often think of them as one.
@Meowton Mewsk - I know about communism much, first hand. It fact, if you knew about it as much as I do, you would understood my statement about "Perfect people" because it's saying used by people to critisise communist. To explained it to you: every system needs to be based in reality. Communist sounds great, but it does not work BECAUSE it has flaws in basics: it assumes people are perfect and will do as Marks though they will, but they won't. That's why capitalism, with all it's flaws, works better. Your life depends on you, your action, not someone's else. You can do whatever you want, not what other people tell you tpdo. You want become a coca-cola seller? You can do it, take a risk. In communist country you would be told from start that "We didn't need coca-cola sellers, we need potato sellers, you must be potato sellers! And btw, coca-cola is capitalistic rubbish and you betreayed your country by wanting to sell it so you go to jail!". That's communism
I wrote about communist country, not capitalistic country with big social system. It's not the same. In fact, I'm from European country too and I would not want to move to USA (I like my universal health care, eveb with its isssues). But my country used to be communist country and every one here is glad we got rid of it. Communist IS NOT the same as socialism.
“If America wasn’t a capitalist society, there wouldn’t be people unable to afford medicine or housing. Every capitalist country fails because people are bad.” That’s how clueless you sound. It’s not smart commentary to say that things go bad because people are imperfect. Duh. That’s not an intellectual statement. You’re self contradictory anyway. You blame communism and then blame people in the next sentence. Be honest and admit that you don’t know much about capitalism, socialism or communism. And you shouldn’t say things about this topic until you learn more, or you’ll validate other ignorant people.
Greetings from a post-communistic country that still hasnt economically fully recovered from the system that fell 30 years ago. Let me start by telling you, that you obviously have no idea what communism is. Scandinavia is by no means in any way a communist country and strong social politics doesn't change the fact. Communism robs you of your freedom, your possibilities and of your individuality. It's mostly a system that's living on a loan from the future, hence why all true communist systems end up in absolute poverty. That is also the case of Venezuela, that was economically completely destroyed by communism and it's effort to nationalize everything and suppress bussiness freedom. It is vitally important to point out the real culprit, so the history doesn't repeat itself as the current political situation creates many misinformed activists. It IS a humanitarian crisis, but it has it's roots in incompetent leadership.
Yes it is...Chavez and Maduro ruined the country with their programs...so NOW it's a humanitarian crisis. https://www.investors.com/politics/editorials/what-caused-venezuelas-collapse-is-no-mystery-except-to-economically-illiterate-journalists/
Zimbabwe has hyperinflation, and the Turkish lira isn’t doing so well lately either. Yet neither of these countries is governed by a communist party. What these countries do have in common is greedy assholes as leaders. So the problem lies with politicians and a corrupt(ed) system - not with communism or socialism.
Sorry but when a country adopts a regime based on an ideology that does not take into account economic reality and reject his failure on others : the decline in oil prices leads to general impoverishment of the country which is no longer able to import the goods it needs (Knowing that this country imports more than it exports and exports almost exclusively oil) and which entails, or rather amplifies considerably the widespread corruption of the country. In the same time he Venezuelan government, in a short-term and dogmatic vision has proceeded to unreasonable wage increases (among others) to the point of emptying the coffers of the state. As a result, it is no longer able to import anything, hence the current hyperinflation. All this by pure ideology ...
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.
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
Holy Shit! Take care and be safe!!
Thank you!!
So what do you do when you need to buy something? How do you eat and survive?
Well, you have to eat what you find in the stores which is not that much since a lot of them are empty. On fridays my mom spends hours on a very long line outside markets waiting for her turn to buy regulated products. Its truly an odyssey. Recently I read a survey that said 93 percent of the population cannot afford food, and that's true! you can go to the streets and see people scavenging for food. It really sucks.
Take a look at this old man and his provision shop, this picture kinda summarises the situation. DjtnnSxU0A...2e39c1.jpg
Claudio, so money is not the problem, Its that there is no food? Do you know how to grow your own? I could send you seeds or something. How can I help?
there's just too much problems with everything, money, food, water service, electric service, public transport, etc... I really appreciate that Rachael!! God bless you for trying to help but I live in an apartment and there's no place for food to grow
Is there anything i can do for you? Am from Pakistan
Thank you Sufyan! Really appreciate your interest in help but I really don't how could you do it
This is awful and I hope you and your family stay safe. It's kinda surreal to read about this from the comfort of Canada.
Thank you Joannie!!
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).
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.
It is about communism. If it wasn't communism country, it would have dealt with crisis. Communism is perfect system for perfect people living in perfect world. But world is not perfect, neither are people. So every communist country sooner od later will fail.
Scandinavia and many countries in Northern/Western Europe (Norway, Denmark, The Netherlands) have a very social system that is (falsely) compared to communism by some US politicians. Yet we work less hours a week, have more holidays, education and healthcare cost next to nothing, our unemployment rates are low, and we consistently rank among the wealthiest, healthiest and happiest nations on earth.
And you taxes are some of the highest.
Zimbabwe has hyperinflation, and the Turkish lira isn’t doing so well lately either. Yet neither of these countries is governed by a communist party.
No. It isn't a communist country. At most Venezuela is a mixed economy with anti-business government policies that distort markets and retard growth. The government intervenes with the process of capital accumulation and with market processes and creates a negative and uncertain atmosphere for business in the name of fighting corruption and serving the needs of “the people”. The dynamic of capital accumulation still drives economic activity, most enterprises are privately-owned and profit seeking, the the wage-labour relationship is still in place.
I'm not saying communism isn't bad. I have many friends from former Soviet countries and all are happy to not live under communist rule anymore. That being said, shitty economies happen everywhere as a result of power-hungry, greedy politicians and fucked up systems - communism doesn't hold exclusivity to having selfish assholes in high ranking government positions.
@Monilip: Yeah, I see what you mean. Communism is so much different from socialism. But seems people often think of them as one.
@Meowton Mewsk - I know about communism much, first hand. It fact, if you knew about it as much as I do, you would understood my statement about "Perfect people" because it's saying used by people to critisise communist. To explained it to you: every system needs to be based in reality. Communist sounds great, but it does not work BECAUSE it has flaws in basics: it assumes people are perfect and will do as Marks though they will, but they won't. That's why capitalism, with all it's flaws, works better. Your life depends on you, your action, not someone's else. You can do whatever you want, not what other people tell you tpdo. You want become a coca-cola seller? You can do it, take a risk. In communist country you would be told from start that "We didn't need coca-cola sellers, we need potato sellers, you must be potato sellers! And btw, coca-cola is capitalistic rubbish and you betreayed your country by wanting to sell it so you go to jail!". That's communism
I wrote about communist country, not capitalistic country with big social system. It's not the same. In fact, I'm from European country too and I would not want to move to USA (I like my universal health care, eveb with its isssues). But my country used to be communist country and every one here is glad we got rid of it. Communist IS NOT the same as socialism.
“If America wasn’t a capitalist society, there wouldn’t be people unable to afford medicine or housing. Every capitalist country fails because people are bad.” That’s how clueless you sound. It’s not smart commentary to say that things go bad because people are imperfect. Duh. That’s not an intellectual statement. You’re self contradictory anyway. You blame communism and then blame people in the next sentence. Be honest and admit that you don’t know much about capitalism, socialism or communism. And you shouldn’t say things about this topic until you learn more, or you’ll validate other ignorant people.
Greetings from a post-communistic country that still hasnt economically fully recovered from the system that fell 30 years ago. Let me start by telling you, that you obviously have no idea what communism is. Scandinavia is by no means in any way a communist country and strong social politics doesn't change the fact. Communism robs you of your freedom, your possibilities and of your individuality. It's mostly a system that's living on a loan from the future, hence why all true communist systems end up in absolute poverty. That is also the case of Venezuela, that was economically completely destroyed by communism and it's effort to nationalize everything and suppress bussiness freedom. It is vitally important to point out the real culprit, so the history doesn't repeat itself as the current political situation creates many misinformed activists. It IS a humanitarian crisis, but it has it's roots in incompetent leadership.
Yes it is...Chavez and Maduro ruined the country with their programs...so NOW it's a humanitarian crisis. https://www.investors.com/politics/editorials/what-caused-venezuelas-collapse-is-no-mystery-except-to-economically-illiterate-journalists/
Zimbabwe has hyperinflation, and the Turkish lira isn’t doing so well lately either. Yet neither of these countries is governed by a communist party. What these countries do have in common is greedy assholes as leaders. So the problem lies with politicians and a corrupt(ed) system - not with communism or socialism.
Sorry but when a country adopts a regime based on an ideology that does not take into account economic reality and reject his failure on others : the decline in oil prices leads to general impoverishment of the country which is no longer able to import the goods it needs (Knowing that this country imports more than it exports and exports almost exclusively oil) and which entails, or rather amplifies considerably the widespread corruption of the country. In the same time he Venezuelan government, in a short-term and dogmatic vision has proceeded to unreasonable wage increases (among others) to the point of emptying the coffers of the state. As a result, it is no longer able to import anything, hence the current hyperinflation. All this by pure ideology ...
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.
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
Holy Shit! Take care and be safe!!
Thank you!!
So what do you do when you need to buy something? How do you eat and survive?
Well, you have to eat what you find in the stores which is not that much since a lot of them are empty. On fridays my mom spends hours on a very long line outside markets waiting for her turn to buy regulated products. Its truly an odyssey. Recently I read a survey that said 93 percent of the population cannot afford food, and that's true! you can go to the streets and see people scavenging for food. It really sucks.
Take a look at this old man and his provision shop, this picture kinda summarises the situation. DjtnnSxU0A...2e39c1.jpg
Claudio, so money is not the problem, Its that there is no food? Do you know how to grow your own? I could send you seeds or something. How can I help?
there's just too much problems with everything, money, food, water service, electric service, public transport, etc... I really appreciate that Rachael!! God bless you for trying to help but I live in an apartment and there's no place for food to grow
Is there anything i can do for you? Am from Pakistan
Thank you Sufyan! Really appreciate your interest in help but I really don't how could you do it
This is awful and I hope you and your family stay safe. It's kinda surreal to read about this from the comfort of Canada.
Thank you Joannie!!