Shrinking economy

A paramedic shouts slogans in Caracas, demanding fair and higher wages during a protest for the lack of medicines, medical supplies and poor conditions in Venezuelan hospitals. Many nurses look for alternative jobs or small business to get money to face daily inflation. Annual

inflation in July touched 264,872 percent. Still July reading was well below levels of over

1 million percent the country witnessed earlier this year. Rampant inflation has led to a

severe decline in purchasing power in Venezuela, where the monthly minimum wage amounts to just over $3 per month. More than 4 million Venezuelans have emigrated due to the inability to buy food and medicine.