According to data released by the Documentation and Social Analysis Center of the Venezuelan Federation of Teachers (Cendas-FVM), a teacher in Venezuela needs the equivalent of 29 times their salary to afford the basic food basket, valued at $531.57 for a representative family of five people.
The average salary of teachers in the country is about $18.34 a month, which represents only 3.5% of the cost of the basic basket, generating a deficit of 96.5%. Last September, Cendas-FVM estimated that this food basket had a value of $531.57, representing a slight decrease of $7.59 compared to August.
Regarding inflation, the Central Bank of Venezuela (BCV) reported that in September it was 0.8%, accumulating an increase of 12.1% in the first nine months of the year. It was noted that the highest price increases were recorded in sectors such as education, alcoholic beverages and tobacco, health, restaurants, and hotels.
Since March 2022, the minimum wage in Venezuela has remained at 130 bolivars, which has lost purchasing power due to the increase in the dollar exchange rate in the country. To alleviate this situation, public employees receive an 'economic war bonus' of $90, combined with the food bonus and salary, totaling $133.3, paid in bolivars at the official BCV rate.
