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

Description

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.

Properties

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)

Methodology

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.

Notes

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