Venezuela increases minimum wage by 26%

(Patria) - Venezuela's acting president Delcy Rodriguez has increased minimum wages by 26.3 percent, to 240 US dollars, AFP reported.

Addressing thousands of government supporters in Caracas on the eve of International Labour Day, Rodriguez, who succeeded the ousted leftist president Nicolas Maduro, said it was "the most significant increase in recent years".

She did not provide a detailed breakdown of the increase, leaving it unclear who would benefit.

Venezuelans have demonstrated repeatedly in recent weeks demanding increases to wages so low that many struggle to survive in the face of annual inflation of over 600 percent.

On April 9, police clashed with thousands of demonstrators marching towards the presidential palace in Caracas demanding wage and pension increases.

The increase announced by Rodriguez on Monday refers to the "comprehensive minimum income", a package consisting of a very low wage ($0.30 per month) - approximately 330 times lower than the United Nations poverty line of three dollars a day, plus a food bonus of $40 and an "economic war" bonus of $150, totaling $190.

Rodriguez also announced an increase in the state pension to $70, which she said represents a 40 percent increase.

She acknowledged that it was still "not enough" and promised a "special plan for our grandfathers and grandmothers".

The announcements were met with applause and cheers from the crowd in Caracas.

But the increases still leave most workers far from the $677 that a family of five needs to cover basic food needs, according to Venezuelan analysts.

Rodriguez insists on "responsible" wage increases that will not cause further inflation.