Venezuelan state-run basic industries increase prices by 46.5%

While private enterprises are being pressured by the Venezuelan Government to avoid increasing prices upon devaluation of the bolivar, state-run industries are making adjustments in their prices based on the new foreign exchange rate.

This is the case of the Venezuelan basic industries in Guayana, northeast Venezuela, whose prices have been increased by 46.5%.

Entrepreneurs confirmed that Sidor adjusted prices up. They added that the price of the products paid prior to the devaluation but that have not been dispatched shall be recalculated based on the new forex rate, VEB 6.30 per US dollar.

rdeniz@eluniversal.com