Inflation in Venezuela
Consumer price inflation in Venezuela averaged 40.6% in the ten years to 2023, in line with the Latin America regional average of 40.6%. The 2023 average figure was 337.2%. For more information on inflation, visit our dedicated page
Venezuela Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Venezuela from 2014 to 2023.
Source: Macrobond.
Venezuela Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2,355.1 | 1,588.5 | 186.7 | 337.2 | - |
| Inflation (CPI, ann. var. %, eop) | 2,959.8 | 686.4 | 234.1 | 189.8 | - |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Venezuelan inflation projections for the next ten years from a panel of 12 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Venezuelan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Venezuelan inflation projections.
Want to get access to the full dataset of Venezuelan inflation forecasts? Send an email to info@focus-economics.com.