The Venezuelan government claims that supermarkets are artificially boosting prices of basic foods by manipulating stockpiles. No surprise there. However, President Hugo Chavez intends to do something about it. Chavez has threatened to nationalize stores selling food above a designated government price. The government has already seized hoarded goods and sold them at government-run Mercal supermarkets, which sell staple foods at discount prices in poor areas and distribution centers.

Speaking to a crowd of pensioners in Caracas, Chavez said he would not hesitate to act against privately-owned outlets caught manipulating prices. “If they insist on violating the interests of the people, the constitution and laws, I will take away the warehouses, the shops, I will take away the supermarkets and I’ll nationalize them,” he warned. One supermarket chain has already been temporarily closed for pricing meat too high.

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