Here in Venezuela, people are more afraid of runaway inflation than Trump

Subscribe to enjoy similar stories. CARACAS, Venezuela—With a U.S. Navy flotilla off the coast and President Trump pushing for strongman Nicolás Maduro’s ouster, Venezuelans are focused on a more urgent matter: the price of Christmas preparations.

Shoppers are filling malls but finding they are blowing their entire paycheck for gifts and decorations. Supermarkets are flush with the pork leg and ham-stuffed breads that are staples of the holiday feast—and are almost twice as expensive as last year. And in one posh neighborhood illuminated by massive LED screens, imported Christmas trees from Canada are going for the equivalent of $300, more than what most people earn monthly.

Here in this capital city of three million people, the drumbeat of war feels distant and unreal. Residents say they have seen attempts before to dethrone Maduro and aren’t holding their breath this time. Instead, their main concern is chronic inflation that this year is expected to hit 270% and then surge to 682% by the end of 2026, according to the International Monetary Fund.

Construction worker Miguel Perez was shopping this week for a new television to replace the broken one at home. He walked away empty-handed. They were all too expensive, with a 50-inch Chinese model going for $400.

“Let’s hope I find something," Perez said. As Betzaida Perez, a stay-at-home mom, shopped for Christmas tree garlands, she said she was trying not to think about Trump’s threats to bomb Venezuela, made as recently as Tuesday. “People just talk and talk and talk and nothing happens," she said.