The annual inflation rate in Venezuela fell to 1813.1 percent in September 2020 from 2177.0 percent in the previous month, according to the Central Bank. The government announced new price controls on food products on April 24th, the first time in two years, as the coronavirus outbreak and an acute gasoline shortage cause inflation to accelerate. The government relaxed almost two decades of stringent economic regulation last year, abandoning enforcement of price controls and allowing dollar transactions. Also, the government has sharply curtailed circulation of the domestic currency, which helped limit prices but left many people struggling to obtain bolivars. On a monthly basis, consumer prices rose 19.6 percent in July, after a 25.1 percent gain in the prior month. source: Banco Central De Venezuela

Inflation Rate in Venezuela averaged 3742.55 percent from 1973 until 2019, reaching an all time high of 344509.50 percent in February of 2019 and a record low of 3.22 percent in February of 1973. This page provides - Venezuela Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela Inflation Rate - values, historical data and charts - was last updated on February of 2021.

Inflation Rate in Venezuela is expected to be 2000.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Venezuela to stand at 2100.00 in 12 months time. In the long-term, the Venezuela Inflation Rate is projected to trend around 2500.00 percent in 2021 and 1000.00 percent in 2022, according to our econometric models.

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Venezuela Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1813.10 2177.00 344509.50 3.22 1973 - 2020 percent Monthly

Venezuela Inflation Rate
In Venezuela, the main components of the consumer price index are: Food and Noon-Alcoholic Beverages (32.2 percent of the total weight); Transports (10.8 percent) and House Rental (9.8 percent). Restaurants and Hotels account for 8.8 percent; Clothing and Footwear for 7.2 percent; Miscellaneous Goods and Services for 5.8 percent and Household Equipment for 5.6 percent. Others include: Health Care (4.3 percent); Communications (3.8 percent); Leisure and Culture (3.6 percent); Alcoholic Beverages and Tobacco (3 percent); Education (2.7 percent) and Household Services (2.3 percent). The national index has a base of 100 as of December 2007. The CPI covers 10 metropolitan areas, plus 74 other localities in the rest of the country.