Venezuela hikes minimum wage 50% as hyperinflation rages

Venezuela hikes minimum wage 50% as hyperinflation rages - Jan. 9, 2017:
"Venezuela's minimum wage keeps rocketing skyward as the country grapples with insane levels of inflation.
President Nicolas Maduro hiked the minimum wage another 50% on Sunday, the fifth increase in the past year.
That sounds like a big raise, but it pales in comparison with the dizzying increases in prices that have made food too expensive for many Venezuelans.
Inflation is expected to surge to 1,660% this year and 2,880% next year, according to forecasts by the International Monetary Fund..."