Average inflation in Venezuela

Measures the change in prices of a representative basket of goods and services bought by Venezuelan households. Published by the Central Bank of Venezuela (BCV), it is the country's main gauge of inflation.

Based on a price survey focused mainly on the Caracas metropolitan area and other cities. Items are weighted by their share of household spending and aggregated into an index with a base year (index 100). Average annual inflation averages the year-on-year rates.

It is a key reference for Venezuela's macroeconomic backdrop, marked by hyperinflation episodes and heavy de facto dollarisation. Very high inflation erodes purchasing power, shapes wages and pressures the bolívar exchange rate.

It only captures the defined basket, not the whole economy. Official releases have been irregular and heavily revised; extreme price volatility and widespread dollar use limit the representativeness of a bolívar-denominated index.