José Guerra after returning from exile: "Caracas is more expensive than Washington and New York"

Venezuelan economist and former deputy José Guerra returned from seven years of exile to find Caracas shockingly expensive, stating that the cost of living in the capital now surpasses that of major U.S. cities like Washington D.C. and New York.

"Friends Venezuelans, I have only been in my country for three and a half hours after seven years of exile. You know the circumstances. I am recording this video because I am truly shocked, I am surprised," Guerra said in a video posted shortly after his arrival. He recounted an experience buying basic items, noting that a kilogram of corn flour cost $1.80 and cheese was $9.

"Caracas is, in this small sample, more expensive than Washington, more expensive than New York, literally speaking," Guerra declared. He described the Venezuelan economy as "totally unanchored, without reference," explaining that merchants constantly adjust prices due to the fluctuating official and market exchange rates. "The seller told me that she changes the price every day, of course, because the official dollar is rising. So, as the official dollar rises, they calculate the price, and there are no longer prices in Bolivars," he added.

Guerra also expressed concern about the effectiveness of the Central Bank of Venezuela's measures to stabilize the exchange rate and control prices. "The economy is not stabilized. I understand there is an effort to stabilize the exchange rate by the Central Bank, but I think this is falling very short of this effect," he stated. He plans to present concrete economic proposals to address the country's "monumental economic crisis" and contribute to a political solution, while questioning how the majority of Venezuelans can afford basic necessities with current price levels.