Venezuelan state-run basic industries increase prices by 46.5%
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.
Cristian Fonseca, a businessman in La Candelaria district downtown Caracas, was doing the accounts in his small shop office on Sunday December 21, 2008. The Christmas shopping season kept him working late hours into the night. It was around 11 p.m. and his phone rang. A friend broke the bad news to him over the telephone.