Inflation in 2019 and its effect on bolivar value
Purchasing power decreased by 1,370,001.05% in 2019 compared to 2018. On average, you would have to spend 1,370,001.05% more money in 2019 than in 2018 for the same item.
In other words, $1 in 2018 is equivalent in purchasing power to about $13,701.01 in 2019.
The 2018 inflation rate was 1370000.00%. The inflation rate in 2019 was 1370001.05%. The 2019 inflation rate is higher compared to the average inflation rate of 0.00% per year between 2019 and 2020.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2019 was 15,194,100,000,000,000.00. It was 1,108,976,599,568.00 in the previous year, 2018. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.
⌃
| Average inflation rate | 1,370,001.05% |
| Converted amount ($1 base) | $13,701.01 |
| Price difference ($1 base) | $13,700.01 |
| CPI in 2018 | 1,108,976,599,568.000 |
| CPI in 2019 | 15,194,100,000,000,000.000 |
| Inflation in 2018 | 1,370,000.00% |
| Inflation in 2019 | 1,370,001.05% |
How to Calculate Inflation Rate for $1, 2018 to 2019
Our calculations use the following inflation rate formula to calculate the change in value between 2018 and 2019:
CPI in 2019
CPI in 2018
×
2018 VEF value
=
2019 VEF value
Then plug in historical CPI values. The Venezuelan CPI was 1108976599568 in the year 2018 and 15194100000000000 in 2019:
151941000000000001108976599568
×
$1
=
$13,701.01
$1 in 2018 has the same "purchasing power" or "buying power" as $13,701.01 in 2019.
To get the total inflation rate for the 1 years between 2018 and 2019, we use the following formula:
CPI in 2019 - CPI in 2018CPI in 2018
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
15194100000000000 - 11089765995681108976599568
×
100
=
1,370,001%
Data Source & Citation
Raw data for these calculations comes from the government of Venezuela's annual (CPI) as provided by the International Monetary Fund.
You may use the following MLA citation for this page: “Inflation Rate in 2019 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 12 Jul. 2020, https://www.officialdata.org/Venezuela-inflation-rate-in-2019.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Average inflation rate | 1,370,001.05% |
| Converted amount ($1 base) | $13,701.01 |
| Price difference ($1 base) | $13,700.01 |
| CPI in 2018 | 1,108,976,599,568.000 |
| CPI in 2019 | 15,194,100,000,000,000.000 |
| Inflation in 2018 | 1,370,000.00% |
| Inflation in 2019 | 1,370,001.05% |