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Shortages in Venezuela of food staples and basic necessities occurred throughout Venezuela's history. [6] Scarcity became more widespread following the enactment of price controls and other policies under the government of Hugo Chávez [7] [8] and exacerbated by the policy of withholding United States dollars from importers under the government of Nicolás Maduro. [9]
Venezuela faced serious food shortages, as the Chávez government's price controls distorted the market. [129] [130] In January 2008, Chávez ordered the military to seize 750 tons of food that sellers were illegally trying to smuggle across the border to sell for higher prices than what was legal in Venezuela. [48]
Shortages in Venezuela became prevalent after price controls were enacted according to the economic policy of the Hugo Chávez government. [ 74 ] [ 75 ] Under the economic policy of the Nicolás Maduro government , greater shortages occurred due to the Venezuelan government's policy of withholding United States dollars from importers with price ...
Venezuela's annual inflation rate settled at 189.8% last year, according to data from the central bank released on Friday, marking a slight easing of the still sky-high rate of rising consumer ...
The price of a Coca-Cola can went from 2,800,000 “old” bolivars to 28 “new” bolivars. In 2022, Venezuelan inflation was still 310%, the highest in the world that year.
Still, grocery prices are higher than they were a year ago. In the 12 months through April, prices rose 1.1%. But overall inflation for that period was higher, up 3.4%.
The Local Committees for Supply and Production (Spanish: Comité Local de Abastecimiento y Producción, CLAP) are food distribution committees promoted by the Venezuelan government in which the communities themselves supply and distribute the priority foods through a house-to-house delivery method.
More than 70% of Venezuela's food is imported; [142] Venezuela became so dependent on food imports that it could no longer afford when the price of oil dropped in 2014. Chávez gave the military control of food, and nationalized much of the industry, which was then neglected, leading to production shortages.