Venezuela raises minimum wage 40 percent, world's fastest inflation

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Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation.

Printing money and increasing minimum wages is never the way out. While increasing wages, they will keep the money printing going, resulting in in money depreciation.

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