Inflation in Venezuela

Venezuela Inflation | Economic News & Forecasts

Venezuela - Inflation

Inflationary spiral continues at start of 2018

The available evidence continues to point to hyperinflation taking place in crisis-hit Venezuela. Although no official inflation data has been released in two years, indicators from official and non-official sources suggest that inflation has risen astronomically since December 2015—the last month for which official data was available—when it hit 180.9%. The opposition-led National Assembly stated that consumer prices rose a staggering 84.2% over the previous month in January, broadly unchanged from December’s increase. According to the Assembly, annualized inflation came in at an astounding 4,068% in January.

In a sign of the spiraling inflation crisis, the latest Central Bank data revealed that the money supply (M2) soared by an exorbitant 1,121% annually in December (the latest month for which data is available), surpassing November’s 874% increase. In addition, the government raised the minimum wage in January, likely in response to spiraling price pressures. Moreover, the Central Bank’s decision to unify the two-tiered exchange rate system and devalue the DICOM exchange rate in February will likely keep price pressures elevated in the coming months.


Venezuela Inflation Forecast


Panelists participating in the LatinFocus Consensus Forecast project inflation ending 2018 at 4,128% and 2019 at 1,487%.

Venezuela - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)40.6  62.2  122  -     -     

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Venezuela Inflation Chart


Venezuela Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Venezuela Central Bank and FocusEconomics calculations.

Venezuela Facts

ValueChangeDate
Bond Yield5.500.0 %Aug 19
Exchange Rate207,3600.0 %Aug 07
Stock Market103,1572.04 %Aug 07

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