Venezuelan inflation rate in 1999: 23.60%

Bs.

Inflation in 1999 and its effect on bolivar value

Bs. 1 in 1998 is equivalent in purchasing power to about Bs. 1.24 in 1999. The bolivar had an average inflation rate of 23.60% per year between 1998 and 1999, producing a cumulative price increase of 23.60%. Purchasing power decreased by 23.60% in 1999 compared to 1998. On average, you would have to spend 23.60% more money in 1999 than in 1998 for the same item.

This means that prices in 1999 are 1.24 times as high as average prices in 1998, according to the International Monetary Fund consumer price index.

The inflation rate in 1998 was 35.80%. The inflation rate in 1999 was 23.60%. The 1999 inflation rate is lower compared to the average inflation rate of 149.58% per year between 1999 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1999 was 31,054.21. It was 25,124.77 in the previous year, 1998. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.

⌃
Inflation from 1998 to 1999
Average inflation rate 23.60%
Converted amount
Bs. 1 base		 Bs. 1.24
Price difference
Bs. 1 base		 Bs. 0.24
CPI in 1998 25,124.768
CPI in 1999 31,054.213
Inflation in 1998 35.80%
Inflation in 1999 23.60%
Bs. 1 in 1998 Bs. 1.24 in 1999
Recent VEF inflation
Annual Rate, the International Monetary Fund CPI
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How to calculate inflation rate for Bs. 1, 1998 to 1999

Our calculations use the following inflation rate formula to calculate the change in value between 1998 and 1999:

CPI in 1999CPI in 1998
×
1998 VEF value
=
1999 VEF value

Then plug in historical CPI values. The Venezuelan CPI was 25124.76786 in the year 1998 and 31054.21308 in 1999:

31054.2130825124.76786
×
Bs. 1
=
Bs. 1.24

Bs. 1 in 1998 has the same "purchasing power" or "buying power" as Bs. 1.24 in 1999.

To get the total inflation rate for the 1 years between 1998 and 1999, we use the following formula:

CPI in 1999 - CPI in 1998CPI in 1998
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

31054.21308 - 25124.7678625124.76786
×
100
=
24%

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 1999 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Oct. 2026, https://www.officialdata.org/Venezuela-inflation-rate-in-1999.

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 1998 to 1999
Average inflation rate 23.60%
Converted amount
Bs. 1 base		 Bs. 1.24
Price difference
Bs. 1 base		 Bs. 0.24
CPI in 1998 25,124.768
CPI in 1999 31,054.213
Inflation in 1998 35.80%
Inflation in 1999 23.60%
Bs. 1 in 1998 Bs. 1.24 in 1999