Inflation in Venezuela
Venezuela - Inflation (end of period)
Inflation falls in annual terms in May
National consumer prices rose 28.5% from the previous month in May, up from April’s 24.6% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV). The uptick was driven by a broad-based increase in price pressures, with prices in key subindices such as food, housing and healthcare all rising at a faster pace compared with the month prior.
On an annual basis, inflation dropped to 2,719% in May, easing slightly from the 2,941% print in April and marking the second consecutive month of falling inflation. Nevertheless, May’s reading was likely amplified somewhat by a low base effect due to the pacifying effect that the Covid-19 pandemic had on price pressures in the same month a year prior. Meanwhile, annual average inflation stood at 2,731%, creeping up marginally from 2,729% in April.
Looking ahead, inflation is projected to ease gradually throughout the rest of the year and into 2022, although it will nevertheless remain significantly elevated compared to regional peers. The continued dollarization of the economy should counterbalance the inflationary impact from the unrelenting depreciation of the bolivar and elevated money supply. Meanwhile, focus remains on the Biden administration’s approach to U.S. sanctions on Venezuela, with any alleviation of the Trump-era “maximum pressure” campaign likely to see an uptick in exports and an easing of import disruptions.
FocusEconomics Consensus Forecast panelists forecast inflation to end 2021 at 1,638%, before falling to 927% in 2022.
Venezuela - Inflation (eop) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %, eop) | 181 | 274 | 863 | 130,060 | 9,585 |
Venezuela Inflation (eop) Chart
Source: Venezuela Central Bank and FocusEconomics calculations.
Venezuela Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.50 | 0.0 % | Aug 19 |
| Exchange Rate | 248,832 | 0.0 % | Aug 17 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Venezuela: Inflation falls in annual terms in May
June 16, 2021
National consumer prices rose 28.5% from the previous month in May, up from April’s 24.6% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
-
Venezuela: Inflation eases slightly in April
May 18, 2021
National consumer prices rose 24.6% from the previous month in April, up from March’s 16.1% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
-
Venezuela: Inflation hits 14-month high in March
April 19, 2021
National consumer prices rose 16.1% from the previous month in March, down markedly from February’s 33.8% month-on-month increase and marking the lowest print in 12 months, according to data released by the Central Bank of Venezuela (BCV).
-
Venezuela: Inflation eases from December’s 22-month high in January
February 12, 2021
National consumer prices rose 46.6% from the previous month in January, down markedly from December’s 77.5% month-on-month increase which had marked the highest print in 22 months, according to data released by the Central Bank of Venezuela (BCV).
-
Venezuela: Depreciation of bolívar remains rampant in 2020; softens from levels seen in 2018 and 2019
January 1, 2021
The Venezuelan bolívar soberano fell sharply against the U.S. dollar in 2020 amid rampant inflationary pressures and tumbling oil production.
© Copyright: 2022. | Venezuela Inflation | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
