Cup of Coffee in Venezuela Surged 25% This Week on Bolivar Slump
- Bloomberg’s Cafe con Leche Index sees largest rise since May
- Bolivar slipped in parallel market as supply of dollars slowed
A customer pays for items at a bakery in Caracas, Venezuela, in March 26, 2019.
Photographer: Adriana Loureiro Fernandez/BloombergThis article is for subscribers only.
The cost of a cup of coffee in Venezuela jumped the most since May, signaling a recent crash in the bolivar is pushing up prices.
Bloomberg’s Cafe con Leche Index rose 25% in a week to 19.63 bolivars, or roughly $2.50. The rise shows the swift effect currency depreciation has on prices. Last week, the bolivar posted its largest monthly loss since January 2021, losing a third of its value on the parallel market.