VENEZUELA · ECONOMY
Key Facts
- Power Index Venezuela ranks 13th of 14 in The Rio Times Latin America Power Index, with 27.0 points (October 2026 edition).
- What is happening Venezuela’s acting president, Delcy Rodríguez, said on Tuesday, 3 November that October inflation was 6.2%, the lowest in 24 months. The central bank has not yet published it.
- Why it matters Venezuela is an oil exporter and a source of migrants to the United States. Slower price rises would ease pressure on households, though prices are still rising fast.
- The numbers Monthly inflation was 8.4% in September, so 6.2% is a drop of 2.2 percentage points. Rodríguez also claimed consumption capacity rose 23% over 12 months.
- Who is who Rodríguez leads Venezuela’s government as acting president. The Central Bank of Venezuela, the BCV, publishes official inflation, and Conindustria is the industrial business confederation.
- What to watch Whether the BCV confirms 6.2% and publishes the October cumulative and annual rates, which Rodríguez did not give.
- What it means for you A 6.2% monthly rate, if repeated for a year, would roughly double prices. Until the central bank publishes it, the figure is a government claim.
Venezuela’s acting president said inflation fell to 6.2% in October, the lowest monthly rate in 24 months. The central bank had not yet published the figure.
Venezuela’s acting president, Delcy Rodríguez, said on Tuesday, 3 November that monthly inflation in October was 6.2%, the lowest in 24 months. She spoke at the congress of Conindustria, the country’s industrial business confederation, in Caracas.
The figure matters to US readers because Venezuela is an oil exporter and a source of migrants to the United States. It is a government claim until the Central Bank of Venezuela, known as the BCV, publishes October data.
What Rodríguez Said
Rodríguez told business leaders that monthly inflation in October was 6.2%, which her government calls the lowest in 24 months. She linked the result to more production and fuller use of factories’ installed capacity.
She also said consumption capacity rose 23% over the last 12 months and that the economy grew 6.6%. She did not say which indicator the 6.6% refers to, and gave no source for the 23%.
She did not give the cumulative rate for January to October or the year-on-year rate. Those are the numbers economists use to judge the pace of prices over longer periods.
In Plain English
- BCV: Venezuela’s central bank, which publishes the official consumer price index and the official exchange rate.
- Monthly and annual inflation: Monthly inflation is the price rise from one month to the next. Annual inflation compares prices with the same month a year earlier.
- Conindustria: The confederation of Venezuelan industrial companies, whose congress Rodríguez addressed.
How the Number Compares
The BCV said monthly inflation in September was 8.4%, so the 6.2% claimed for October would be 2.2 percentage points lower. A monthly rate of 6.2% still means prices are rising fast.
The BCV said in June that May’s 6.3% was the lowest monthly rate since October 2024. A confirmed 6.2% would sit just below it, which fits the two-year framing.
If repeated for 12 months, a 6.2% monthly rate would roughly double prices. That is why a falling monthly rate can still leave annual inflation very high.
What It Means for You
Investors in Venezuelan debt and energy should wait for the BCV’s own numbers before treating the 6.2% as settled. The State Department advises Americans not to travel to Venezuela.
Households still face prices that rise every month. The 23% consumption claim comes with no published source or method.
More is on the Venezuela hub, in the Venezuela explainer and in the Venezuela economy guide. Earlier coverage looked at September’s inflation figure, and the Caracas city page covers the capital.
What Is Not Known
No BCV release for October was available on Wednesday morning, so the 6.2% cannot be checked against its series. The 24-month claim and the cumulative and annual rates are also unconfirmed.
It is not known how the 6.6% growth and 23% consumption figures were calculated. Neither came with a source, a period or a method.
What Comes Next
The BCV published the September figure on Saturday, 3 October. Its October release would confirm or correct the 6.2%.
Frequently Asked Questions
What was Venezuela’s inflation in October?
Acting president Delcy Rodríguez said monthly inflation was 6.2%, the lowest in 24 months. The central bank had not yet published the figure.
Is 6.2% monthly inflation low?
It is lower than September’s 8.4%, but still fast. At that pace, prices would roughly double in a year.
Who publishes Venezuela’s official inflation?
The Central Bank of Venezuela, the BCV, publishes the official consumer price index. It released the September figure on Saturday, 3 October.
What does this mean for US readers?
Venezuela is an oil exporter, and its economy affects migration and energy markets. The State Department advises Americans not to travel to Venezuela.
Sources: Delcy Rodríguez, acting president of Venezuela, remarks at the Conindustria congress, Caracas (3 November 2026); Central Bank of Venezuela (BCV), consumer price index release for September 2026 (3 October 2026); US State Department, Venezuela travel advisory (accessed 4 November 2026); Conindustria, Venezuelan industrial confederation, conindustria.org.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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