Venezuela inflation rises as Central Bank reports 19.19% monthly increase

Venezuela is experiencing a significant inflationary surge. The Central Bank of Venezuela (BCV) reported a monthly inflation rate of 19.19% for July, a notable increase from the 13.6% recorded in June. While the BCV attributed some of this rise to logistical bottlenecks caused by earthquakes in late June, economists argue that increasing monetary liquidity is a primary driver of the price pressure.

Separately, the Public Expenditure Observatory (OGP) of Cedice Libertad released its own estimates for July. Their calculations show a monthly price variation of 13.50% in bolívares, while noting a 3.91% decrease in dollar terms. The organization's year-on-year inflation figure for July 2026 reached 738.79% in local currency and 35.17% in dollars.

In terms of cost of living, the estimated monthly consumption basket for a family of three in Caracas, Valencia, and Maracaibo reached approximately 656,239.61 bolívares (roughly 885.49 dollars). In Valencia, the basket was the most expensive in absolute terms, estimated at 917.59 dollars.