Venezuelan inflation rate in 2020: 2,360.00%

$

Inflation in 2020 and its effect on bolivar value

$1 in 2019 is equivalent in purchasing power to about $24.60 in 2020. The bolivar had an average inflation rate of 2,360.00% per year between 2019 and 2020, producing a cumulative price increase of 2,360.00%. Purchasing power decreased by 2,360.00% in 2020 compared to 2019. On average, you would have to spend 2,360.00% more money in 2020 than in 2019 for the same item.

This means that prices in 2020 are 24.60 times higher than average prices since 2019, according to the International Monetary Fund consumer price index.

The inflation rate in 2019 was 19100.00%. The inflation rate in 2020 was 2360.00%.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2020 was 607,613,152,011.00. It was 24,699,721,626.00 in the previous year, 2019. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.


Inflation from 2019 to 2020
Average inflation rate 2,360.00%
Converted amount ($1 base) $24.60
Price difference ($1 base) $23.60
CPI in 2019 24,699,721,626.000
CPI in 2020 607,613,152,011.000
Inflation in 2019 19,100.00%
Inflation in 2020 2,360.00%
$1 in 2019 $24.60 in 2020

VEF Inflation since 1979
Annual Rate, the International Monetary Fund CPI
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How to Calculate Inflation Rate for $1, 2019 to 2020

Our calculations use the following inflation rate formula to calculate the change in value between 2019 and 2020:

CPI in 2020 CPI in 2019
×
2019 VEF value
=
2020 VEF value

Then plug in historical CPI values. The Venezuelan CPI was 24699721626 in the year 2019 and 607613152011 in 2020:

60761315201124699721626
×
$1
=
$24.60

$1 in 2019 has the same "purchasing power" or "buying power" as $24.60 in 2020.

To get the total inflation rate for the 1 years between 2019 and 2020, we use the following formula:

CPI in 2020 - CPI in 2019CPI in 2019
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

607613152011 - 2469972162624699721626
×
100
=
2,360%

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 2020 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Jan. 2022, https://www.officialdata.org/Venezuela-inflation-rate-in-2020.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 2019 to 2020
Average inflation rate 2,360.00%
Converted amount ($1 base) $24.60
Price difference ($1 base) $23.60
CPI in 2019 24,699,721,626.000
CPI in 2020 607,613,152,011.000
Inflation in 2019 19,100.00%
Inflation in 2020 2,360.00%
$1 in 2019 $24.60 in 2020