Inflation Hits Venezuela’s Corn Flour Prices

Nothing seems to be going right for Venezuela. The people of Venezuela, in particular, are suffering mightily due to the outrageous mismanagement of their home country. Poor decisions on the part of politicians have caused essential goods to skyrocket in price. Simple food staples that were once incredibly cheap now cost a fortune. Corn flour, a major part of the daily diet of Venezuelans, has gone up 900% in price. The price of food has skyrocketed and such ridiculously high inflation is not out of the ordinary anymore. Tragically, outrageous inflation is becoming the norm in Venezuela.
“The supreme tragic irony” as we quote a facebook user from Venezuela, is price controls were put in place to keep corn flour cheap. The government run by President President Nicolas Maduro established a policy that would lock in the price for 15 months at just 19 bolivares per kilogram. The populace truly appreciated the price controls for the time they lasted. The price controls, unfortunately, have expired beyond their range of being feasible. Overnight (literally), the price of corn flour has jumped to 190 bolivares.

This price is totally outside of the range of being affordable by large amounts of the population in Venezuela. Expert Danilo Diaz says people simply do not have any money due to the collapse of the economy. Nothing seems to indicate the economy is going to turn around. Collapse is likely. Government manipulation of the economy on every level is being blamed for this horrific situation.