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Venezuela nearly tripled its minimum wage Saturday but inflation is so outrageous that that amount of money will not even buy a kilo of meat. Labor Minister Eduardo Pinate announced the raise to government supporters at a May Day rally in Caracas. The new monthly minimum wage is seven million bolivares, which is equivalent to $2.50. A kilo (2.2 pounds) of meat in Venezuela costs about $3.75. Full Text -> France24
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