Hyperinflation rages throughout country

Venezuela's minimum wage keeps rocketing skyward as the country grapples with insane levels of inflation. President Nicolas Maduro hiked the minimum wage another 50 percent on Sunday, the fifth increase in the past year. That sounds like a big raise, but it pales in comparison with the dizzying increases in prices that have made food too expensive for many Venezuelans. Inflation is expected to surge to 1,660 percent this year and 2,880 percent next year, according to forecasts by the International Monetary Fund. Maduro on Sunday repeated his claim that his country is the victim of an economic war waged by his opponents, according to state-run news agency AVN. More…