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Wages in Venezuela Increase by 92% in the Second Quarter

In the private sector, the higher increase is recorded in the construction area

[Ed. Note: Hyper-inflation, before our very eyes. ~Kerry.]

from EL Universal

The remuneration index prepared by the Central Bank of Venezuela (BCV) indicates that wages climbed 92% on average during the second quarter of this year.

An increase in wages, combined with a slower advance in prices, has allowed the purchasing power to recover partly from the loss recorded in the last two quarters.

“The slowing down of goods and services prices and the increases in workers’ remuneration have allowed to restore the purchasing power to the levels of the third quarter of 2011,” said BCV authorities.

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