Venezuela leader hikes minimum wage package by 26%

Venezuela's acting president Delcy Rodriguez on Thursday hiked the minimum wage package by 26.3 percent, to $240, in an attempt to quell growing discontent over difficult living conditions.

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

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

Venezuelans have in recent weeks repeatedly demonstrated for an increase 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 protesters who marched towards the presidential palace in Caracas to demand salary and pension increases.

Minimum income

The increase announced Monday by Rodriguez is to the "comprehensive minimum income," a package composed of a very low wage ($0.30 a month) -- roughly 330 times lower than the UN poverty line of $3 a day -- topped with a food bonus of $40 and an "economic war" bonus of $150 for a total of $190.

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

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 cries of joy from the crowd in Caracas.

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

Rodriguez has insisted on the need for "responsible" wage increases that do not cause inflation to further spiral.

Yeisi Romero, a 44-year-old local government worker attending the rally, said the increases fell short of his expectations but that "things are getting better."