Posted on 05/25/2016 1:55:34 PM PDT by Lorianne
Caracas (AFP) - Venezuelans on Tuesday woke up to discover that the government-controlled price of corn flour -- used to make corn patty arepas, a staple of local cuisine -- has risen 900 percent.
(Excerpt) Read more at yahoo.com ...
The government-controlled price has risen a bit to come closer to the actual market price, but until it REACHES the real price, there will be none on the shelves.
Inflation estimated to be 720% so far according to zero hedge. Corn flour up 900% overnite.
http://www.zerohedge.com/news/2016-05-25/maximum-amount-cash-you-can-take-out-venezuela-atm
Like watching a slow train wreck.
Venezuelan socialism now lets you buy bread - if you can afford it.
A cruel joke considering the local currency is worthless.
But, corn should be used for gasoline so we don’t perish in global warming.
Tortilla Wars !
And that's just this week...
Wonder how that will affect US corn meal prices? If people will pay 700 times as much there, then there’s no reason not to hike the price here.
Remember a few years ago when ranchers were dumping every head of cattle they had on the market due to the drought? Prices should have dropped. They didn’t. Prices doubled.
Prices have dropped now. Ranchers increased herds when hamburger was going for 4 bucks a pound a couple of years ago. So much that it’s now down to 2 bucks.
And of course that socialist government blames manufacturers for the problem.
The 72% is at $3.60 in the 10 lb tubes here.
So how much exactly is my bag of gladiola worth?
They call it cuisine. They don’t even have basic staple foods let alone anything called cuisine.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.