The average inflation rate in Venezuela was estimated at approximately 48.98 percent in 2024. Between 1980 and 2024, the inflation rose by around 27.62 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the inflation will increase by about 176.02 percentage points.This indicator measures inflation based upon the year-on-year change in the average consumer price index, expressed in percent. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services.

Due to the recent hyperinflation crisis in Venezuela, the average inflation rate in Venezuela is estimated to be around 225 percent in 2026. 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.

Inflation Rate in Venezuela increased to 172 percent in April from 136 percent in March of 2025. This dataset provides - Venezuela Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Consumer Price Index in Venezuela increased 4 percent in October of 2024 over the previous month. This dataset provides - Venezuela Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core consumer prices in Venezuela increased 60.30 percent in December of 2013 over the same month in the previous year. This dataset provides - Venezuela Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

The annual end-of-period inflation rate of Venezuela was estimated at approximately 47.17 percent in 2024. Between 1985 and 2024, the rate rose by around 38.05 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the rate will increase by about 171.05 percentage points.The International Monetary Fund describes this indicator as a measure of inflation based upon the year-on-year percent change in the end-of-period consumer price index (CPI). The said index measure is based upon the cost of a typical basket of goods and services at the end of a given time period.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Venezuela was 23.58 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 25.75 percent. Compared to a year ago, we see a decrease from the...

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.

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.

Inflation, GDP deflator (annual %) in Venezuela was reported at 748 % in 2017, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - Inflation, GDP deflator (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The annual average consumer price index in Venezuela was estimated at approximately 272.59 billion points in 2024. Between 1980 and 2024, the index rose by around 272.59 billion points, though the increase followed an uneven trajectory rather than a consistent upward trend. From 2024 to 2026, the index will increase by about 2.21 trillion points.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.

Inflation, consumer prices (annual %) in Venezuela was reported at 255 % in 2016, according to the World Bank collection of development indicators, compiled from officially recognized sources. Venezuela - Inflation, consumer prices (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

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.

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.

In August 2024, the global consumer price index, excluding the United States, stood at *****, compared to ***** for the U.S. The data for the world and emerging economies are distorted by hyperinflation in Venezuela and may not accurately reflect the inflation rate of other countries. However, Russia's war in Ukraine caused a surge in prices globally through 2022 and 2023. The headline consumer price index tracks the changes in the price level of a basket of goods and services purchased by households. Economic challenges in Argentina While CPI increases have been significant globally, certain economies have experienced more dramatic increases than others. Argentina is a notable case of these increases, as the CPI has increased more than *** percent between 2020 and 2023. Currently, most of the Argentinian public considers inflation and low wages to be the biggest challenges facing the country. Consumer responses to price increases Globally, consumers are coping with price increases in many ways. In a May 2023 survey, ** percent respondents from over 14 countries indicated they were more conscious about prices than previously. In another survey from earlier that year, over ** percent of respondents indicated they were most concerned about inflation and had changed their consumption habits as a result.

In 2019, Venezuela’s estimated gross domestic product (GDP) per capita dropped to 2,624.41 U.S. dollars from 3,529.72 U.S. dollars the year before. the country's GDP has been on a continuous downswing for about a decade now - in 2010, it amounted to more than 11,000 U.S. dollars, and seemed to recover from a sudden slump again in 2016, before decreasing rapidly ever since. GDP per capita is a measurement of a country’s economic output that accounts for its number of people, thus making it a good measurement of a country’s standard of living.

A time of economic hardships

Currently, a major economic crisis is shaking Venezuela, resulting in hyperinflation, food and water shortages, and unemployment. Venezuela’s inflation rate has skyrocketed to over 900,000 percent in 2018, and the economy is suffering, with the Venezuelan GDP growth decreasing substantially each year since 2014.

A population affected by instability

In response to the economic and political climate, many are leaving the country for places such as Colombia, Peru, and Ecuador, with hopes for more stability and better economic prospects. Due in part to this, Venezuela’s population growth has decreased consistently over the last five years: In 2019, the country’s population was around 28 million inhabitants - a figure that is estimated to decrease further in the future.

Graph and download economic data for Venezuelan Bolivares to U.S. Dollar Spot Exchange Rate (DEXVZUS) from 1995-01-02 to 2025-07-03 about Venezuela, exchange rate, currency, rate, and USA.

The CNE (National Electoral Council) of Venezuela declared Nicolás Maduro the winner of the 2024 elections with 51 percent of the votes. Since 2013, this is the third time the official results give Maduro the presidency.

Poverty in Venezuela During the last few years, Venezuela has suffered from all sorts of shortages, from water and food to fuel and energy. In 2013, around 31 percent of households lived impoverished, by 2021, the figure was above 90 percent and around 68 percent were under the extreme poverty line. Food insecurity still plays an important role, during a 2022 survey, around 78 percent of Venezuelans were worried about running out of food. Venezuela also has the lowest minimum wage in Latin America, with a monthly salary lower than four U.S. dollars.

Not a positive economic outlook Despite having all to become one of the largest oil exporters in the world, the oil industry of Venezuela recorded more and more problems, including mismanagement of resources, production crises, and the increasing number of international sanctions. The Gross Domestic Product (GDP) of Venezuela peaked in 2013, with over 372 billion U.S. dollars, to then plummet to 43.79 billion in 2020. The forecasts do not show signs of an economic recovery in the following years. Another of the main issues the Venezuela society faces is inflation, as of 2023, the country ranked with the highest inflation rate in Latin America with over 337 percent.

The benchmark interest rate in Venezuela was last recorded at 59.27 percent. This dataset provides the latest reported value for - Venezuela Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.