# Venezuelan inflation rate in 2021: 2,700.00%

\$

## Inflation in 2021 and its effect on bolivar value

\$1 in 2020 is equivalent in purchasing power to about \$28.00 today. The bolivar had an average inflation rate of 2,700.00% in the last 12 months. As a result, the real value of a bolivar has been decreasing recently. Purchasing power decreased by 2,700.00% in 2021 compared to 2020. On average, you would have to spend 2,700.00% more money in 2021 than in 2020 for the same item.

This means that today's prices are 28.00 times as high as average prices since 2020, according to the International Monetary Fund consumer price index. A bolivar today only buys 3.571% of what it could buy back then.

The inflation rate in 2020 was 2360.00%. The current inflation rate compared to the end of last year is now 2,700.00%. If this number holds, \$1 today will be equivalent in buying power to \$28.00 next year.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2021 is 17,013,168,256,313.00. It was 607,613,152,011.00 in the previous year, 2020. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.

 Average inflation rate 2,700.00% Converted amount\$1 base \$28.00 Price difference\$1 base \$27.00 CPI in 2020 607,613,152,011.000 CPI in 2021 17,013,168,256,313.000 Inflation in 2020 2,360.00% Inflation in 2021 2,700.00% \$1 in 2020 \$28.00 in 2021

Recent VEF inflation
Annual Rate, the International Monetary Fund CPI

## How to calculate inflation rate for \$1 since 2020

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

CPI today CPI in 2020
×
2020 VEF value
=
Today's value

Then plug in historical CPI values. The Venezuelan CPI was 607613152011 in the year 2020 and 17013168256313 in 2021:

17013168256313607613152011
×
\$1
=
\$28.00

\$1 in 2020 has the same "purchasing power" or "buying power" as \$28.00 in 2021.

To get the total inflation rate for the 1 years between 2020 and 2021, we use the following formula:

CPI in 2021 - CPI in 2020CPI in 2020
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

17013168256313 - 607613152011607613152011
×
100
=
2,700%

## 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 2021 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Sep. 2024, https://www.officialdata.org/Venezuela-inflation-rate-in-2021.

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

#### 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.

 Average inflation rate 2,700.00% Converted amount\$1 base \$28.00 Price difference\$1 base \$27.00 CPI in 2020 607,613,152,011.000 CPI in 2021 17,013,168,256,313.000 Inflation in 2020 2,360.00% Inflation in 2021 2,700.00% \$1 in 2020 \$28.00 in 2021