Food prices up 27.2 percent in the past 12 months

[naaman fletcher]

The Center for Documentation and Social Analysis (Cenda) reported that from June 2010 to June 2011, the cost of Venezuela's basic food basket climbed 27.2 percent.
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Cenda also reported that the cost of the basic food basket in June was VEB 2,905.39 (USD 675.67). The food items with the largest price increases include fats and oils (14.1%), sugar and sugary foods (8.1%) and meat and meat preparations (6.6%).

The report issued by Cenda claimed that in some of the stores they visited during the survey, a liter of soybean oil cost VEB 20 (USD 4.65). They also found restrictions in the sale of products at regulated prices.

According to estimates by Cenda, the current minimum wage of VEB 1,407.47 (USD 327.31) covers only 48.4% of the basic food basket. Therefore, it estimated that people require at least two minimum wages to purchase all the items of the basket.

http://english.eluniversal.com/2011/07/13/food-prices-up-272-percent-in-the-past-12-months.shtml

For the people.