Inside Venezuela: Thanks that's 14.6m bolivars for a chicken

A seller receives a debit card to pay for a tray of eggs, at a market in Caracas, Venezuela. Photo / AP

14m bolivars for a chicken: Venezuela hyperinflation explained https://t.co/KtUv6YtBUa

— The Guardian (@guardian) August 20, 2018

What does a chicken cost? In Venezuela an eye-popping amount.

Venezuela was already suffering through an economic and national crisis, with the bolivar becoming nearly worthless.

At the weekend, President Nicolas Maduro carried out a massive currency devaluations. Bloomberg reports that the 95 per cent plunge that will test the capacity of an already beleaguered population to stomach even more pain.

It says that one likely outcome is that inflation, which already was forecast to reach 1 million per cent this year, will get fresh fuel from the measures.

Reuters photographer Carlos Garcia Rawlins has been documenting the hyperinflation in the country through images of everyday items with the cash it costs to buy them. The images include:

14,600,000 bolivars for a 2.4kg chicken. That's the equivalent of NZ$3.35.

2,600,000 bolivars for a toilet roll.

3,000,000 bolivars for carrots.

2,500,000 bolivars for 1kg of rice.

3,500,000 bolivars for a packet of sanitary pads.

5,000,000 bolivars for 1kg of tomatoes.

7,500,000 bolivars for 1kg of cheese.

8,000,000 bolivars for nappies.

9,500,000 bolivars for 1kg of meat.

Bloomberg reports that the devaluation comes at the same time the Government is redenominating the currency by lopping off five zeros and introducing new bills and a name change.