Venezuela - Consumer Price Index (CPI)

Venezuela: Consumer Price Index (CPI)

Mnemonic CPI.IVEN
Unit Index Dec2007=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 6.15 %
Data Oct 2022 5,654,207,045,137
Sep 2022 5,326,371,620,985

Series Information

Source Central Bank of Venezuela
Release National Consumer Price Index
Frequency Monthly
Start Date 12/31/2007
End Date 10/31/2022

Venezuela: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2022 5,654,207,045,137 5,326,371,620,985 Index Dec2007=100, NSA Monthly
Producer Price Index (PPI) Jan 2019 1,123,413,948 525,697,301 Index 2007=100, NSA Monthly
Wholesale Price Index Jan 2019 3,878,562,228 1,409,173,937 Index 2007=100, NSA Monthly

Release Information

The consumer price index (CPI) for the Caracas Metropolitan Area is produced and disseminated by the Central Bank of Venezuela (BCV). The Consumer price index for the Caracas Metropolitan Area CPI is a statistical indicator which measures changes in the prices of a basket of goods and services representative of household consumption in the Caracas Metropolitan Area. This index is the official measure of price movements in Venezuela and is used in policy decision-making. The National Statistics Institute (INE) produces and disseminates a national CPI.

  • Classification: COICOP or similar
  • Measurement: Fixed-base index relative to December 2007 (Index Dec2007=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • Country - 2007m1
    • Caracas - 1950m1 or 1999m1
  • Geo coverage:
    • Country
    • National capital (Caracas)

Since January 2000, the CPI for the Caracas metropolitan area has been published with a new base year (1997=100). The weights are derived from the Second National Household Budget Survey (ENPF) carried out by the BCV in the Caracas metropolitan area during the period January 1997-March 1998. The index is calculated using the Laspeyres formula.

The type of price is the transaction price, collected at 2,000 establishments, with 370 different types of establishment (supermarkets, hypermarkets, department stores, open community markets, fast food outlets, informal businesses, etc.) for the 287 items making up the CPI basket for the Caracas metropolitan area, which represent 93 percent of household final consumption expenditure.

Moody's Analytics supplements

We compute SA versions of the all-items index for the Caracas subset.

Because the source did not update data in all of 2014, we have reduced our check-cadence to monthly. 

Further reading

At IMF (e-GDDS):

  • Consumer price index - No document