Pressure from the U.S. has accelerated the devaluation of Venezuela's currency. Nonetheless, people are trying to maintain a festive atmosphere with traditional purchases of seasonal ingredients and home decorations.

Caracas

Venezuelan families are experiencing significant challenges due to rising inflation and rapid currency devaluation, which have accelerated in recent months. Despite official reports of economic growth driven by oil, mining, and domestic production, many citizens report diminished purchasing power and changes to their holiday traditions.

Experts warn that inflation and exchange rate instability continue to directly affect families and businesses, with no signs of stabilization. In addition to economic difficulties, concerns over increased US military presence near Venezuela have contributed to a sense of unease among the population.

Inflation on the rise again in Venezuela

Luis and Agne are looking for ingredients for Christmas dinner at a popular market in Caracas. The increase in prices, even in US dollars, worries this young couple, who see their purchasing power diminishing. If I had to describe it with one word, I would say that what we are experiencing with the currency devaluation is crazy. There's been devaluation for many years, and we are somehow accustomed to this. But in these last three months, the devaluation has been happening daily. But it's not just the economic crisis that is causing concern. Many are anxious about the increased US military presence near Venezuela. That sense of sharing, of being social with one another at Christmas, has really declined. The situation now feels strange. We haven't been able to experience it, or at least, from my perspective, I can't experience Christmas the way I used to. According to the Central Bank, Venezuela's GDP grew 8.71% during the third quarter of the year, compared to the same period in 2024. This increase, according to the agency, is due to the recovery of strategic sectors, such as oil and mining. It's also backed by a rise in domestic production, the growth of trade, domestic tourism, and an economic policy that seeks to replace imports. Luis Crespo, professor at the Central University of Venezuela, warns that the country is still facing serious, unresolved problems. There are two variables in 2025 that have directly affected families and businesses. The exchange rate and inflation. Two variables that are spiraling upwards and show no signs of stabilizing. Even so, Agne and Luis try to keep up the Christmas traditions. Despite everything, we are weighing up at the moment and the difficulties we are going through, literally living one day at a time. We put up a tree and a nativity scene, and we get together when we can. With everything that we are going through, this gives us a spark of joy, a moment of hope. We have not given up on sharing this time with our family. Nevertheless, the tensions with the U.S. keep rising.

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Wilmington

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Council of the City of Sydney

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Moscow

Ukraine Invasion

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Taipei City

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Breakdown