Why Venezuelans Are Paying Millions Of Bolivars For A Cup Of Coffee

Meera Dolasia
2018-08-27T13:28:37-07:00

Think the prices at your neighborhood coffee shop are a little steep? Then you might want to avoid visiting the South American country of Venezuela, where the cost of a cup of coffee has risen more than tenfold, from a “reasonable” 190,000 bolivars in April 2018, to over 2 million bolivars in August 2018. What’s worse is that if the July 26, 2018 report from the International Monetary Fund forecasting a 1,000,000 percent annual inflation rate is correct, the caffeine fix could set the country’s residents back an astounding 5 million bolivars per cup by September! Welcome to Venezuela’s hyperinflated economy!