$1 in 2005 is equivalent in purchasing power to about $6,607,167.39 in 2020, an increase of $6,607,166.39 over 15 years. The bolivar had an average inflation rate of 184.88% per year between 2005 and 2020, producing a cumulative price increase of 660,716,639.15%.
This means that prices in 2020 are 6,607,167.39 times as high as average prices since 2005, according to the International Monetary Fund consumer price index.
The inflation rate in 2005 was 16.00%. The inflation rate in 2020 was 2360.00%. The 2020 inflation rate is lower compared to the average inflation rate of 2,700.00% per year between 2020 and 2021.
Cumulative price change | 660,716,639.15% |
Average inflation rate | 184.88% |
Converted amount $1 base | $6,607,167.39 |
Price difference $1 base | $6,607,166.39 |
CPI in 2005 | 91,962.730 |
CPI in 2020 | 607,613,152,011.000 |
Inflation in 2005 | 16.00% |
Inflation in 2020 | 2,360.00% |
$1 in 2005 | $6,607,167.39 in 2020 |
This chart shows a calculation of buying power equivalence for $1 in 2005 (price index tracking began in 1979).
For example, if you started with $1, you would need to end with $6,607,167.39 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $6,607,167.39 over time, that means that the "real value" of a single Venezuelan bolivar decreases over time. In other words, a bolivar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a bolivar over time. By calculating the value in 2005 dollars, the chart below shows how $1 is worth less over 15 years.
According to the International Monetary Fund, each of these VEF amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 2005 amounts in 2020 bolivars, based on the 660,716,639.15% change in prices:
Initial value | Equivalent value |
---|---|
$1 bolivar in 2005 | $6,607,167.39 bolivars in 2020 |
$5 bolivars in 2005 | $33,035,836.96 bolivars in 2020 |
$10 bolivars in 2005 | $66,071,673.91 bolivars in 2020 |
$50 bolivars in 2005 | $330,358,369.57 bolivars in 2020 |
$100 bolivars in 2005 | $660,716,739.15 bolivars in 2020 |
$500 bolivars in 2005 | $3,303,583,695.74 bolivars in 2020 |
$1,000 bolivars in 2005 | $6,607,167,391.48 bolivars in 2020 |
$5,000 bolivars in 2005 | $33,035,836,957.42 bolivars in 2020 |
$10,000 bolivars in 2005 | $66,071,673,914.83 bolivars in 2020 |
$50,000 bolivars in 2005 | $330,358,369,574.16 bolivars in 2020 |
$100,000 bolivars in 2005 | $660,716,739,148.33 bolivars in 2020 |
$500,000 bolivars in 2005 | $3,303,583,695,741.64 bolivars in 2020 |
$1,000,000 bolivars in 2005 | $6,607,167,391,483.28 bolivars in 2020 |
Our calculations use the following inflation rate formula to calculate the change in value between 2005 and 2020:
Then plug in historical CPI values. The Venezuelan CPI was 91962.73017 in the year 2005 and 607613152011 in 2020:
$1 in 2005 has the same "purchasing power" or "buying power" as $6,607,167.39 in 2020.
To get the total inflation rate for the 15 years between 2005 and 2020, we use the following formula:
Plugging in the values to this equation, we get:
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: “$1 in 2005 → 2020 | Venezuela Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Apr. 2024, https://www.officialdata.org/venezuela/inflation/2005?amount=1&endYear=2020.
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.
Cumulative price change | 660,716,639.15% |
Average inflation rate | 184.88% |
Converted amount $1 base | $6,607,167.39 |
Price difference $1 base | $6,607,166.39 |
CPI in 2005 | 91,962.730 |
CPI in 2020 | 607,613,152,011.000 |
Inflation in 2005 | 16.00% |
Inflation in 2020 | 2,360.00% |
$1 in 2005 | $6,607,167.39 in 2020 |