A minimum-wage worker in Venezuela could afford 5 cups of coffee each month — and nothing else
Five million Venezuelan bolivars is the equivalent of $1.45. It's also roughly a minimum-wage worker's entire monthly salary in the South American country.
Thanks to stunning inflation, it now takes 1 million bolivars to buy a cup of coffee in a Venezuelan cafe, Bloomberg reports. That's one-fifth of Venezuela's monthly minimum wage, and a 10,000-bill stack of Venezuela's most common bank note, the 100-bolivar bill.
To illustrate Venezuela's rampant inflation, Bloomberg has tracked the price of a cup of coffee since December 2016 on its Cafe Con Leche index. One dose of caffeine cost 450 bolivars when the index launched two years ago, but 43,378 percent inflation in the last year has led to today's astronomical price.
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Additionally, if the pace of inflation over the past three months continues, Bloomberg estimates that inflation would be 482,153 percent after a year. Check out the Cafe Con Leche index at Bloomberg for a detailed — and astonishing — visual.
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Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
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