Venezuelan President Proposes to Freeze All Commodity, Service Prices

Venezuelan President Nicolas Maduro said that he had ordered the government to consider the issue to freeze prices for all goods and services in the country, media reported.

MOSCOW (Sputnik) — Maduro announced his proposal during the Labor Day parade calling to back it, the Telesur broadcaster reported Monday.

The news outlet added that the move was aimed at protection of citizens' wages in the context of an "economic war."

The Latin American country is currently in a state of deep economic and political crisis. The situation is complicated by shortages of consumer goods and hyperinflation as well as by opposition protests demanding fresh presidential elections.