PUTTING OUT FIRE WITH GASOLINE: Hyperinflationary Venezuela announces 150 percent minimum wage hike. “Maduro said in a televised broadcast that the new monthly salary would be 4,500 bolivars. Citizens routinely complain they cannot afford basic items despite a 60-fold minimum wage increase in August.”
Related: Venezuela Devalues Currency by More Than 40% in Dicom Auction.
A country which barely produces anything domestically any longer just made imports that much more expensive — assuming you can actually buy dollars at the official exchange rate, which seems (ahem) unlikely.
Except for the nomenklatura, I assume.