Venezuela's annual inflation rate jumped to 2.69 million percent in January of 2019 from 1.70 million percent in December, according to estimates from Venezuela's opposition-led congress. It is the highest inflation rate on record, amid severe shortages of food and medicines and political crisis escalating. Meantime, the strengthening of US economic sanctions announced on 28 January 2019 also contributed to the rise in inflation. Inflation Rate in Venezuela averaged 13960.36 percent from 1973 until 2019, reaching an all time high of 2688670 percent in January of 2019 and a record low of 3.22 percent in February of 1973.
Inflation Rate in Venezuela is expected to be 800000.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Venezuela to stand at 180000.00 in 12 months time. In the long-term, the Venezuela Inflation Rate is projected to trend around 4500.00 percent in 2020, according to our econometric models.