The World - News from Jan. 29, 1989
The price of beer and spirits doubled as the Nicaraguan government prepared tough new austerity measures to combat inflation running at over 21,000% a year. Manufacturers announced a 120% increase in beer prices, a 100% hike for rum and soft drinks and a 75% increase for some brands of cigarettes. The latest increases brought the cost of 24 bottles of beer to $12.50 and a case of lemonade to $7.50, which is more than many workers earn in a month. President Daniel Ortega called a special session of Nicaragua’s National Assembly for Monday to announce an economic plan for 1989.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
