Venezuelan inflation rate in 2002: 22.40%

Bs.

Inflation in 2002 and its effect on bolivar value

Bs. 1 in 2001 is equivalent in purchasing power to about Bs. 1.22 in 2002. The bolivar had an average inflation rate of 22.40% per year between 2001 and 2002, producing a cumulative price increase of 22.40%. Purchasing power decreased by 22.40% in 2002 compared to 2001. On average, you would have to spend 22.40% more money in 2002 than in 2001 for the same item.

This means that prices in 2002 are 1.22 times as high as average prices in 2001, according to the International Monetary Fund consumer price index.

The inflation rate in 2001 was 12.50%. The inflation rate in 2002 was 22.40%. The 2002 inflation rate is lower compared to the average inflation rate of 181.31% per year between 2002 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2002 was 49,689.04. It was 40,595.62 in the previous year, 2001. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.

⌃
Inflation from 2001 to 2002
Average inflation rate 22.40%
Converted amount
Bs. 1 base		 Bs. 1.22
Price difference
Bs. 1 base		 Bs. 0.22
CPI in 2001 40,595.620
CPI in 2002 49,689.039
Inflation in 2001 12.50%
Inflation in 2002 22.40%
Bs. 1 in 2001 Bs. 1.22 in 2002
Recent VEF inflation
Annual Rate, the International Monetary Fund CPI
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How to calculate inflation rate for Bs. 1, 2001 to 2002

Our calculations use the following inflation rate formula to calculate the change in value between 2001 and 2002:

CPI in 2002CPI in 2001
×
2001 VEF value
=
2002 VEF value

Then plug in historical CPI values. The Venezuelan CPI was 40595.62005 in the year 2001 and 49689.03894 in 2002:

49689.0389440595.62005
×
Bs. 1
=
Bs. 1.22

Bs. 1 in 2001 has the same "purchasing power" or "buying power" as Bs. 1.22 in 2002.

To get the total inflation rate for the 1 years between 2001 and 2002, we use the following formula:

CPI in 2002 - CPI in 2001CPI in 2001
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

49689.03894 - 40595.6200540595.62005
×
100
=
22%

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 2002 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Oct. 2026, https://www.officialdata.org/Venezuela-inflation-rate-in-2002.

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 2001 to 2002
Average inflation rate 22.40%
Converted amount
Bs. 1 base		 Bs. 1.22
Price difference
Bs. 1 base		 Bs. 0.22
CPI in 2001 40,595.620
CPI in 2002 49,689.039
Inflation in 2001 12.50%
Inflation in 2002 22.40%
Bs. 1 in 2001 Bs. 1.22 in 2002