This report tracks changes in Venezuela, RB's GDP deflator and the annual rate of inflation across domestically produced goods and services.
Economy-wide inflation in Venezuela, RB, measured by the GDP deflator, was 54.7% in 2024, down from 367.9% in 2023.
The GDP deflator stood at 97055.2, changing by +96955.2% over five years and +44985276162125.2% over ten years.
Real GDP growth was 1.6% in 2025.
In the common comparison year 2024, Venezuela, RB recorded the 7th-highest GDP deflator inflation rate among 213 economies with available data.
Venezuela, RB GDP Deflator and Inflation by Year
Data source: World Bank, World Development Indicators — GDP deflator (NY.GDP.DEFL.ZS); Inflation, GDP deflator, annual % (NY.GDP.DEFL.KD.ZG); GDP growth, annual % (NY.GDP.MKTP.KD.ZG).
License: CC BY-4.0. Retrieved 2026-07-12.
About the Indicators
GDP deflator. The ratio of GDP in current local-currency prices to GDP in constant local-currency prices, expressed as an index. Unlike the CPI, it covers price changes across everything produced domestically, not just goods and services bought by households.
Inflation, GDP deflator, annual %. The annual growth rate of the GDP deflator, capturing economy-wide inflation across all domestically produced goods and services rather than just consumer purchases.
GDP growth, annual %. The annual percentage change in gross domestic product measured at constant prices, the standard indicator of real economic growth after removing the effect of inflation.