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LatinNews Daily - 10 May 2021

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In brief: Venezuela enforces price adjustments in April

* Venezuela’s state-owned television network, Venezuela de Televisión, has announced that in April the national consumer protection agency (Sundde) adjusted prices in 1,429 businesses found to have breached the law on fair prices (LOPJ), which imposes price controls on food and medicines to try to contain inflation. Businesses are required to sell these products at fixed prices and are restricted to a 20% profit margin on imported food and medicines, and a 30% profit margin on those products which are domestically produced. In the event that the sale is made in a foreign currency, costs must be calculated at the official exchange rate published by Venezuela’s central bank (BCV). The price adjustments were made after Sundde carried out 1,850 audits last month.