Venezuela's food shortage in January the highest in five years

Staple shortage hit 26.2% in January, 8% up with respect to January 2013. The figure is also the highest for the first month of the year since 2010, according to the numbers of the Central Bank of Venezuela.

In general terms, scarcity extends to 26 out of 100 staples as a result of the imbalance in the Venezuelan economy, characterized the supply-demand mismatch.

Economist and director of research firm Datanálisis, Luis Vicente León, has explained that even if the Government tries to solve this problem, shortage will escalate in the next two months given the production gap.

Exorbitant prices

In addition to food in short supply, Venezuela undergoes high prices. According to the central bank, the price of food and non-beverages soared 4.3% in January.

Furthermore, food prices hiked to 74% in 2013, the highest level since 1996.

Translated by Jhean Cabrera