Venezuelan inflation rate in 1998: 35.80%

Bs.

Inflation in 1998 and its effect on bolivar value

Bs. 1 in 1997 is equivalent in purchasing power to about Bs. 1.36 in 1998. The bolivar had an average inflation rate of 35.80% per year between 1997 and 1998, producing a cumulative price increase of 35.80%. Purchasing power decreased by 35.80% in 1998 compared to 1997. On average, you would have to spend 35.80% more money in 1998 than in 1997 for the same item.

This means that prices in 1998 are 1.36 times as high as average prices in 1997, according to the International Monetary Fund consumer price index.

The inflation rate in 1997 was 50.00%. The inflation rate in 1998 was 35.80%. The 1998 inflation rate is lower compared to the average inflation rate of 142.07% per year between 1998 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1998 was 25,124.77. It was 18,501.30 in the previous year, 1997. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.

⌃
Inflation from 1997 to 1998
Average inflation rate 35.80%
Converted amount
Bs. 1 base		 Bs. 1.36
Price difference
Bs. 1 base		 Bs. 0.36
CPI in 1997 18,501.302
CPI in 1998 25,124.768
Inflation in 1997 50.00%
Inflation in 1998 35.80%
Bs. 1 in 1997 Bs. 1.36 in 1998
Recent VEF inflation
Annual Rate, the International Monetary Fund CPI
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How to calculate inflation rate for Bs. 1, 1997 to 1998

Our calculations use the following inflation rate formula to calculate the change in value between 1997 and 1998:

CPI in 1998CPI in 1997
×
1997 VEF value
=
1998 VEF value

Then plug in historical CPI values. The Venezuelan CPI was 18501.30181 in the year 1997 and 25124.76786 in 1998:

25124.7678618501.30181
×
Bs. 1
=
Bs. 1.36

Bs. 1 in 1997 has the same "purchasing power" or "buying power" as Bs. 1.36 in 1998.

To get the total inflation rate for the 1 years between 1997 and 1998, we use the following formula:

CPI in 1998 - CPI in 1997CPI in 1997
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

25124.76786 - 18501.3018118501.30181
×
100
=
36%

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 1998 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Oct. 2026, https://www.officialdata.org/Venezuela-inflation-rate-in-1998.

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

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Ian Webster

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.

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Inflation from 1997 to 1998
Average inflation rate 35.80%
Converted amount
Bs. 1 base		 Bs. 1.36
Price difference
Bs. 1 base		 Bs. 0.36
CPI in 1997 18,501.302
CPI in 1998 25,124.768
Inflation in 1997 50.00%
Inflation in 1998 35.80%
Bs. 1 in 1997 Bs. 1.36 in 1998