Inflation in Venezuela may be running at 56 percent, but Venezuelan president Nicolás Maduro has an answer: Increase the minimum wage by 30 percent.
The announcement comes after months of protests against his administration for rising inflation, shortages of basic goods, and a high crime rate.
The increases will go into effect on May 1, in honor of International Workers’ Day. The minimum wage was already increased by 10 percent in January.
Maduro blamed soaring price on an “economic war” launched by “price-gouging” business executives.