Venezuela boosts worker pay again amid hyperinflation

CARACAS, Venezuela (AP) — Venezuela has dramatically hiked the minimum wage in a move that critics expect will do little to alleviate widespread suffering in the crisis-torn country.
Socialist party lawmaker Francisco Torrealba announced Monday that the monthly package of pay and bonuses will equal roughly $15 monthly — an increase of more than 350%.
It’s the third pay raise this year in Venezuela, a once-wealthy oil-producing nation plunged into an economic crisis with hyperin