Published December 15, 2016

Updated

Venezuelan Café Con Leche Index

Cafe Con Leche

Tracking hyperinflation one cup of coffee at a time

Mired in a brutal economic collapse, Venezuela refuses to publish basic statistics. So we created our own gauge to measure one of the most important of all the missing figures — inflation.

Most Recent Price:

Bolívars

Annual Inflation Rate

(For selected period)

3 Month

6 Month

1 Year

All Time

We called it the Bloomberg Cafe Con Leche Index, and as the name would suggest, it tracks just one item: a cup of coffee served piping hot at a bakery in eastern Caracas. Its price has jumped to bolivars* from bolivars over the past 12 months, an increase of percent.

While the gauge isn’t nearly as sophisticated as a conventional consumer price index, it has merits too: it’s tangible; tracked regularly; and, given that it monitors a product consumed by Venezuelans everyday, provides a unique up-close look at inflation in the country. Stay tuned for further updates.

*Currency conversions are tricky in Venezuela given its byzantine multiple exchange-rate system. But in the black market – where most people buy and sell dollars – bolivars is worth less than $0.50

Editor: David Papadopoulos

Project manager: Thomas Houston

Development: James Singleton

Illustration: Steph Davidson / Getty Images