Venezuelans struggle with high prices and shrinking buying power

Added: 2026-05-18

[00:00:02]After 28 years of selling fruit and vegetables in the same spot in the middle class neighborhood in Caracas, Edison Cardenas says that life has not gotten better in Venezuela since the US deposed Nicolas Maduro.

[00:00:14]The reality must be told. From January 3rd until now, we have not seen any improvement.

[00:00:21]Oil prices have stayed high since the war in Iran started, and the International Monetary Fund is projecting a 4% growth for 2026.

[00:00:30]On paper, it sounds like a boom, but on the streets of Caracas, people aren't really feeling it.

[00:00:37]Sales are not flowing like they were before January 3rd. Prices are excessively high. It's something that can't be sustained.

[00:00:48]Mafer Mojica, a retired journalist and professor, buys her groceries at the same market stall. She used to shop weekly. Now, she says she only buys every 2 weeks.

[00:01:00]Sometimes I feel embarrassed because I disappear for 15 days or 3 weeks, but here we go, waiting for this to change because it's about time, isn't it? What you see is police everywhere. For that, there is money.

[00:01:14]Only a small portion of her budget goes toward meat.

[00:01:18]While browsing the stalls, she explains the limitations of her diet.

[00:01:22]One buys what one can.

[00:01:25]I have shredded beef that lasts several days, some ground beef, and that's it.

[00:01:30]It's not like I can buy a steak.

[00:01:34]Venezuela still faces some of the highest price increases in the world.

[00:01:38]The country that holds the world's largest proven oil reserves has moved from a crisis of empty shelves to a crisis of empty pockets.

[00:01:49]One manages by buying the things that are cheaper.

[00:01:54]Mafer lives on a pension of approximately 20 US cents a month.

[00:01:59]Yes, 20 cents a month.

[00:02:02]Supplemented by the economy work bonus.

[00:02:04]A measure originally implemented by the Maduro administration to compensate low salaries.

[00:02:10]If you don't have someone to help you, you have a hard time. That is the truth.

[00:02:16]The US celebrates new oil deals while President Trump claims people are dancing in the streets, but on the ground it's a different story of struggle.

[00:02:26]Until this oil wealth translates into real purchasing power, this recovery it's just a headline that the common citizen cannot afford.

[00:02:36]Ana Herrera, TRT World, Caracas.