On 30 April 2017, the Venezuelan government announced a 60% increase in the country's minimum monthly salary from VEF 40,638.15 to VEF 65,021.04 to be effective 1 May 2017. This follows several increases in recent years, including a 50% increase in January 2017, and is the result of major inflation problems in the country and mounting protests in recent weeks.

The minimum salary is used in det…