Venezuelan Minimum Wage Not Sufficient for Average Cost of Living (cost breakdown): Inflation and Stagnant Incomes to Blame

Venezuelan basic food supply

Venezuelan minimum wage = BsF 1,224 per month.
BsF 14,688 per year or approximately  $3,400 USD per year.

Reasonable Average Costs (August 2010)
BsF 140,000 = New economy car
BsF 5,500 = Full size orthopedic mattress
BsF 4,500 = Basic food budget
BsF 5,500 = Refrigerator

BsF 5,000 = Washing machine
BsF 1,200 = Simple TV
BsF 600 = Shoes
BsF 550,000 = Apartment
BsF 1,400 = School Supplies

BsF 713,700 = TOTAL Cost of Living

48.5 = Years of working at minimum wage needed to afford above items.