Due to the recent hyperinflation crisis in Venezuela, the average inflation rate in Venezuela is estimated to be around 150 percent in 2025. However, this is well below the peak of 63,000 percent observed in 2018.What is hyperinflation?In short, hyperinflation is a very high inflation rate that accelerates quickly. It can be caused by a government printing huge amounts of new money to pay for its expenses. The subsequent rapid increase of prices causes the country’s currency to lose value and shortages in goods to occur. People then typically start hoarding goods, which become even more scarce and expensive, money becomes worthless, financial institutions go bankrupt, and eventually, the country’s economy collapses. The Venezuelan descent into hyperinflationIn Venezuela, the economic catastrophe began with government price controls and plummeting oil prices, which caused state-run oil companies to go bankrupt. The government then starting printing new money to cope, thus prices rose rapidly, unemployment increased, and GDP collapsed, all of which was exacerbated by international sanctions. Today, many Venezuelans are emigrating to find work and supplies elsewhere, and population growth is at a decade-low. Current president Nicolás Maduro does not seem inclined to steer away from his course of price controls and economic mismanagement, so the standard of living in the country is not expected to improve significantly anytime soon.

The average inflation rate in Venezuela was forecast to continuously increase between 2024 and 2025 by in total 12 percentage points. The inflation is estimated to amount to 71.65 percent in 2025. Following the definitions provided by the International Monetary Fund, this indicator measures inflation based upon the year on year change in the average consumer price index. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services. Depicted here is the year-on-year change in said index measure, expressed in percent.Find more key insights for the average inflation rate in countries like Guyana, Suriname, and Colombia.

During the depicted period, Venezuela's monthly inflation rate has oscillated, hitting its highest point in January 2023 at 39.4 percent. As of August 2024, the inflation rate was around 2.8 percent.

The annual inflation rate of end of period consumer prices in Venezuela was forecast to continuously increase between 2024 and 2025 by in total 0.1 percentage points. The rate is estimated to amount to 60.1 percent in 2025. The International Monetary Fund describes this indicator as a measure of inflation based upon the year on year change in the end of period consumer price index. Said index measure is based upon the cost of a typical basket of goods and services at the end of a given time period. Typically a reference year exists for which a value of 100 had been assigned.Find more key insights for the annual inflation rate of end of period consumer prices in countries like Colombia, Guyana, and Suriname.

Cost of food in Venezuela increased 21.90 percent in October of 2024 over the same month in the previous year. This dataset provides - Venezuela Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

نرخ تورم در ونزوئلا از 25.75 درصد در سپتامبر 2024 به 23.58 درصد در اکتبر کاهش یافت. ارزش های فعلی، داده های تاریخی، پیش بینی، آمار، نمودار و تقویم اقتصادی - ونزوئلا - نرخ تورم.

In August 2024, the economic sector registering the most elevated inflation rate was communications, standing at 6.4 percent, trailed by housing at 4.3 percent, and home equipment at 3.3 percent when compared to the previous month.

Venezuela VE: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 67.147 % in 2014. This records an increase from the previous number of 35.503 % for 2013. Venezuela VE: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 30.132 % from Dec 1990 (Median) to 2014, with 25 observations. The data reached an all-time high of 115.525 % in 1996 and a record low of 7.832 % in 2009. Venezuela VE: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

In October 2024, the inflation rate of food in Venezuela increased by 21.9 percent compared to the same month from the previous year.

40.4 (%) in 2014. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Forbrugerprisindekset i Venezuela steg med 4 procent i oktober 2024 i forhold til måneden før. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Venezuela - Inflation Rate (Månedlig).

This scatter chart displays inflation (annual %) against birth rate (per 1,000 people) and is filtered where the country is Venezuela. The data is about countries per year.

Venezuela Consumer Price Index (CPI): Food and Nonalcoholic Beverages data was reported at 80,150,426,599,314.406 Dec2007=100 in Oct 2024. This records an increase from the previous number of 77,404,056,281,791.906 Dec2007=100 for Sep 2024. Venezuela Consumer Price Index (CPI): Food and Nonalcoholic Beverages data is updated monthly, averaging 12,660.750 Dec2007=100 from Jan 2008 (Median) to Oct 2024, with 202 observations. The data reached an all-time high of 80,150,426,599,314.406 Dec2007=100 in Oct 2024 and a record low of 104.200 Dec2007=100 in Jan 2008. Venezuela Consumer Price Index (CPI): Food and Nonalcoholic Beverages data remains active status in CEIC and is reported by Central Bank of Venezuela. The data is categorized under Global Database’s Venezuela – Table VE.I001: Consumer Price Index: National: Dec2007=100.

The annual average consumer price index in Venezuela was forecast to continuously increase between 2024 and 2025 by in total 209,242,897,294.1 points (+71.65 percent). After the twenty-second consecutive increasing year, the index is estimated to reach 501,276,438,898.67 points and therefore a new peak in 2025. Notably, the annual average consumer price index was continuously increasing over the past years.As defined by the International Monetary Fund, this indicator measures inflation on the basis of the average consumer price index. This index measure expresses a country's average level of prices based on a typical basket of consumer goods and services during a certain year. Typically a reference year exists for which a value of 100 had been assigned.Find more key insights for the annual average consumer price index in countries like Colombia, Suriname, and Guyana.

Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

This horizontal bar chart displays inflation (annual %) by ISO 3 country code using the aggregation average and is filtered where the country is Venezuela. The data is about countries per year.

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

In 2023, no Latin American or Caribbean country registered deflation in their average consumer prices. Costa Rica had the lowest change compared to the previous year with 0.52 percent. In contrast, the average inflation rate in Venezuela amounted to about 337.46 percent.

Latin America among the highest inflation rates in the world In 2023, the average inflation rate of the region was around 14.41 percent. Which is significantly higher than the global average of 6.78 percent. Some of that is explained by countries such as Venezuela, Argentina, and Suriname ranking in the top then of countries with the highest inflation rate in the world.

Chronic inflation in Latin America Chronic inflation is often defined as persistent high inflation throughout a long time. Some of the common examples of this problem are Venezuela and Argentina, both countries had episodes of hyperinflation, with price increases considerably over 50 percent per month in both cases. The last few years, the global crisis and economic sanctions, attenuated the situation with Argentina reaching once again three-digit inflation and Venezuela exceeding 63,000 percent inflation in 2019.

Graph and download economic data for Venezuelan Bolivares to U.S. Dollar Spot Exchange Rate (DEXVZUS) from 1995-01-02 to 2025-03-21 about Venezuela, exchange rate, currency, rate, and USA.

The Consumer Price Index gauges the price changes in a basket of goods and services in a defined time period. In Argentina, the CPI in April 2024 was 289 percent higher than the one registered the same month of the previous year, with this figure being the largest monthly inflation rate since, at least, the beginning of 2018. The Argentinian inflation rate has been experiencing a steep increase from December 2020 onwards, when the decreasing trend witnessed since December 2019 came to an end. Long history of inflation in Latin America High inflation rates are nothing new in Latin America. In 2023, the region's inflation rate was 14.41 percent, while the global average was much lower at 6.78 percent. Nonetheless, the main drivers of this are Venezuela and Argentina, both being in the upper table of countries with the highest inflation rates in the world. During the last few years, Venezuela entered a period with five-digits inflation rates, having to issue a new currency and implementing new policies to control price increases.

A history of hyperinflation During the last couple of years, inflation has been a constant among the main problems the Argentine society faces. The country returned to a three-digit inflation rate with former president Alberto Fernández, and the constant price increases took a toll on households across the board. Nevertheless, the problem is far from a recent one or the worst it's ever been, in 1989 and 1990, the inflation rate was over 2,000 percent, reaching for the status of hyperinflation. Commonly, hyperinflation is defined as price increases with over 50 percent per month.