Venezuela Raises Minimum Wage to $240 Amid Rising Social Unrest

Venezuela more than doubled the minimum monthly wage to $240 as authorities try to ease pressure on households after months of high inflation and growing unrest.

Acting President Delcy Rodríguez called it “the most significant increase in recent years” during a public event in Caracas, a day before the Labor Day holiday. Pension payments will also rise 40% to $70, she said.

The move follows a pledge to deliver a “responsible” wage hike without fueling further inflation, after years of price instability and collapsing incomes.

Rodríguez faces mounting discontent as Venezuelans grow increasingly pessimistic about the economic outlook. ...