Venezuelans started buying items immediately because of their fear of

Posted By Admin @ September 03, 2022

Question:

Venezuelans started buying items immediately because of their fear of

rising inflation.
price deflation.
declining inflation.
increased imports.

Answer:

Answer:

Venezuelans started buying items immediately because of their fear of  rising inflation.

Explanation:

The economy of Venezuela, since the beginning of the Bolivarian Revolution led by Hugo Chavez, has started a process of economic stagnation and inflation, characterized by a high level of public deficit and monetary issue, which has generated increasing levels of inflation.

Thus, by year 2010, Venezuela had an approximate annual inflation of 50%, which rose to the percentage of 100% in 2015. Only 2 years later, that percentage was 1,370%. As of today, estimates speak of 10,000% annually.

This situation, added to the lack of updating of wages and the daily changes in prices of basic goods, means that Venezuelans have changed their consumption habits and tend to make preventive and hoarding purchases.

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