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Hyperinflation makes money less worthwhile


October 8, 2018 10:25
Updated 8 November 2008 at 10:00. 11:11

Rafael Guzmán, Deputy Mayor National Assembly (AN) and chairman of Parliament's Finance Committee, said on Thursday that, despite the recent wage increase by the government, Venezuela's purchasing power has not changed since August.

"It's not nice if we rely on Venezuelans that their money is worth less each day," Globovisión said in a statement to Guzmán. He also added that according to the Finance Committee, inflation rose by 148.2% in October.

Guzmans explained that prices have fallen in September. This is due to the fact that most of Venezuela no longer purchased some products due to high prices.

With information from Globovision

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