Venezuelan inflation rate in 2008: 31.40%

Bs.

Inflation in 2008 and its effect on bolivar value

Bs. 1 in 2007 is equivalent in purchasing power to about Bs. 1.31 in 2008. The bolivar had an average inflation rate of 31.40% per year between 2007 and 2008, producing a cumulative price increase of 31.40%. Purchasing power decreased by 31.40% in 2008 compared to 2007. On average, you would have to spend 31.40% more money in 2008 than in 2007 for the same item.

This means that prices in 2008 are 1.31 times as high as average prices in 2007, according to the International Monetary Fund consumer price index.

The inflation rate in 2007 was 18.70%. The inflation rate in 2008 was 31.40%. The 2008 inflation rate is lower compared to the average inflation rate of 313.81% per year between 2008 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2008 was 163,086.65. It was 124,114.65 in the previous year, 2007. The difference in CPI between the years is used by the International Monetary Fund to officially determine inflation.

⌃
Inflation from 2007 to 2008
Average inflation rate 31.40%
Converted amount
Bs. 1 base		 Bs. 1.31
Price difference
Bs. 1 base		 Bs. 0.31
CPI in 2007 124,114.648
CPI in 2008 163,086.647
Inflation in 2007 18.70%
Inflation in 2008 31.40%
Bs. 1 in 2007 Bs. 1.31 in 2008
Recent VEF inflation
Annual Rate, the International Monetary Fund CPI
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How to calculate inflation rate for Bs. 1, 2007 to 2008

Our calculations use the following inflation rate formula to calculate the change in value between 2007 and 2008:

CPI in 2008CPI in 2007
×
2007 VEF value
=
2008 VEF value

Then plug in historical CPI values. The Venezuelan CPI was 124114.6479 in the year 2007 and 163086.6474 in 2008:

163086.6474124114.6479
×
Bs. 1
=
Bs. 1.31

Bs. 1 in 2007 has the same "purchasing power" or "buying power" as Bs. 1.31 in 2008.

To get the total inflation rate for the 1 years between 2007 and 2008, we use the following formula:

CPI in 2008 - CPI in 2007CPI in 2007
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

163086.6474 - 124114.6479124114.6479
×
100
=
31%

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 2008 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Oct. 2026, https://www.officialdata.org/Venezuela-inflation-rate-in-2008.

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 2007 to 2008
Average inflation rate 31.40%
Converted amount
Bs. 1 base		 Bs. 1.31
Price difference
Bs. 1 base		 Bs. 0.31
CPI in 2007 124,114.648
CPI in 2008 163,086.647
Inflation in 2007 18.70%
Inflation in 2008 31.40%
Bs. 1 in 2007 Bs. 1.31 in 2008