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Jittery Venezuelans on Friday rushed to shops and formed long lines in preparation for a monetary overhaul that will remove five zeros from prices in response to hyperinflation that has made cash increasingly worthless. Shoppers sought to ensure their homes were stocked with food before the measure decreed by President Nicolas Maduro takes effect on Monday, on concerns that confusion among merchants and overtaxed banking systems could make commerce impossible. Inflation hit 82,700 percent in July as the country's socialist economic model continues to unravel, meaning purchases of basic items such as a bar of soap or a kilo of tomatoes require piles of cash that is often difficult to obtain. Buying one kilo of cheese, worth the equivalent of $1.14 at the most widely used exchange rate, requires 7,500 notes of 1,000 bolivar denomination – a note that was only brought fully into circulation in 2017. Here: A package of 1kg of pasta is pictured next to 2,500,000 bolivars, its price and the equivalent of 0.38 USD, at a mini-market in Caracas, Venezuela August 16, 2018. It was the going price at an informal market in the low-income neighborhood of Catia. (Photo by Carlos Garcia Rawlins/Reuters)
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