The Daily Journal.— The Family Food Basket (CAF) cost $727.89 in July, equivalent to 516,804.22 bolivars, according to Óscar Meza, director of the Documentation and Social Analysis Center of the Venezuelan Federation of Teachers (Cendas-FVM).
According to the institution’s monthly report, the price in U.S. dollars fell by 3.77%, or $28.56, compared with June. In contrast, the cost in local currency rose by 15.79%, or 70,499.69 bolivars, from the previous month.
Gap with the minimum wage and additional expenses
The technical report indicated that an average household needed 3,975.41 minimum wages to afford the basket’s 60 essential products.
Based on these figures, the legal minimum wage covered only 0.03% of basic nutritional needs, leaving families with a structural purchasing deficit of 99.97%.
Cendas-FVM also reported that adding the monthly cost of drinking water, estimated at $13.52, brought the total cost of the Family Food Basket to $741.41 in July.
