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Cost of Living in Caracas, Venezuela

Prices in Caracas

Compare Caracas with:
IndexInfo
Consumer Price Index (Excl.Rent): 134.37
Rent Index: 60.45
Groceries Index: 148.90
Restaurants Index: 112.80
Consumer Price Plus Rent Index: 98.60
Local Purchasing Power: 13.55

Currency: Default Currency      Switch to imperial measurement units
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Restaurants [Edit] Avg.
Range
Meal, Inexpensive Restaurant 17.18 $
13.98
27.95
Meal for 2, Mid-range Restaurant, Three-course 79.00 $
58.21
93.18
Combo Meal at McDonalds or Similar 16.31 $
14.66
19.00
Domestic Beer (0.5 liter draught) 4.00 $
2.80
5.00
Imported Beer (0.33 liter bottle) 6.23 $
5.00
9.00
Cappuccino (regular) 3.16 $
2.38
4.00
Coke/Pepsi (0.33 liter bottle) 2.97 $
2.78
3.49
Water (0.33 liter bottle) 1.73 $
1.45
2.00
Markets [Edit] Avg.
Milk (regular), (1 liter) 2.16 $
1.40
2.61
Loaf of Fresh White Bread (500g) 2.29 $
2.00
2.80
Rice (white), (1kg) 1.58 $
1.19
2.17
Eggs (12) 5.88 $
4.19
6.52
Local Cheese (1kg) 17.88 $
13.74
20.98
Chicken Breasts (Boneless, Skinless), (1kg) 16.01 $
12.30
20.00
Apples (1kg) 8.22 $
6.00
10.00
Oranges (1kg) 4.23 $
3.00
5.00
Tomato (1kg) 5.99 $
5.00
7.16
Potato (1kg) 5.07 $
4.00
6.00
Lettuce (1 head) 4.29 $
3.33
4.66
Water (1.5 liter bottle) 2.55 $
2.00
3.18
Bottle of Wine (Mid-Range) 27.95 $
18.63
46.92
Domestic Beer (0.5 liter bottle) 3.25 $
2.03
4.66
Imported Beer (0.33 liter bottle) 6.00 $
4.66
6.99
Pack of Cigarettes (Marlboro) 6.51 $
5.56
7.50
Transportation [Edit] Avg.
One-way Ticket (Local Transport) 0.93 $
0.61
1.00
Monthly Pass (Regular Price) 10.00 $
8.00
12.57
Taxi Start (Normal Tariff) 11.58 $
9.54
13.97
Taxi 1km (Normal Tariff) 2.08 $
1.16
3.00
Taxi 1hour Waiting (Normal Tariff) 30.00 $
27.94
32.61
Gasoline (1 liter) 0.14 $
0.09
0.23
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 69,886.09 $
51,249.80
95,000.00
Utilities (Monthly) [Edit] Avg.
Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment 46.52 $
27.95
80.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.24 $
0.14
0.47
Internet (6 Mbps, Unlimited Data, Cable/ADSL) 57.09 $
34.94
80.00
Sports And Leisure [Edit] Avg.
Fitness Club, Monthly Fee for 1 Adult 128.98 $
79.52
200.00
Tennis Court Rent (1 Hour on Weekend) 32.34 $
18.64
47.46
Cinema, International Release, 1 Seat 13.98 $
13.00
15.14
Clothing And Shoes [Edit] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 181.58 $
116.48
232.95
1 Summer Dress in a Chain Store (Zara, H&M, ...) 133.16 $
93.13
209.55
1 Pair of Nike Shoes 253.03 $
186.25
349.43
1 Pair of Men Leather Shoes 313.99 $
232.95
419.32
Rent Per Month [Edit] Avg.
Apartment (1 bedroom) in City Centre 1,632.58 $
1,162.80
2,170.77
Apartment (1 bedroom) Outside of Centre 788.97 $
600.00
1,000.00
Apartment (3 bedrooms) in City Centre 3,460.38 $
2,500.00
4,341.53
Apartment (3 bedrooms) Outside of Centre 1,745.88 $
1,000.00
2,794.01
Buy Apartment Price [Edit] Avg.
Price per Square Meter to Buy Apartment in City Centre 3,605.10 $
3,494.30
3,721.00
Price per Square Meter to Buy Apartment Outside of Centre 2,271.13 $
2,000.00
2,590.00
Salaries And Financing [Edit] Avg.
Average Monthly Disposable Salary (After Tax) 581.81 $
349.21
865.95
Mortgage Interest Rate in Percentages (%), Yearly 13.00
12.00
15.00

These data are based on 841 entries in the past 18 months from 62 different contributors.

Last update: April, 2014

Sources and References : Info
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22 Comments so far

#Rafael Morante on Feb 03, 2014 :
Hi John, that's correct...

The government has introduced some policy changes to exchange control, things like, for example:

-Tourists have special points within ports of entry to Venezuela where they can exchange foreign currency for VEF (local currency) at an exchange rate of 11.36 VEF x 1 USD.
-Supposedly there will be law reforms that will permit a "more free" currency market for investors and enterprises.

In real life this doesn't really address the underlying issue and the black market is still going strong: today for example 1 USD goes for 81.46 VEF!!!

Any knowledgeable foreigner can get good value for a tight dollar budget..
#john on Jan 25, 2014 :
so rafael, if someone in caracas had a thousand dollars in cash then they would have ten times local buying power in bolivars? import dollars, covert and live very well?
#Rafael Morante on Jan 23, 2014 :
Last minute update:

Venezuelan government yesterday announced that the exchange rate will vary from 6.3 VEF per USD to 11.3 VEF per USD (with a floating price marked by auctions) for ALL but "basic" economic activity (the only economy sectors that will still enjoy the "preferred" rate at 6.3 VEF per USD are medical, Oil industry, Food among others that rely heavily on imports and are deem high priority).
#Rafael Morante on Jan 21, 2014 :
Btw, I didn't answer the question about pricing for rent:

The CHEAPEST apartment you can rent in Caracas, for example, goes for about 15,000 VEF monthly... That means 2380.95 USD (Monthly) by the government-rate and 208.33 USD by the black market value!!!...

Get the idea?!... The moral of the story is that hard currency (foreign currency, for that matter) governs local economy. If you come as an expat and exchange your cash greenbacks at black market rate, you'll find Venezuela to be a really "cheap" place to be... But make the same type of expenses with a credit card (to which you will be charged by the official exchange rate) and you'll weep because of how incredibly expensive everything is...

That's the reason why "exchange mafias" (with deep government connections) have emerged: if you have means to obtain foreign currency at the official rate, you just might come back to Venezuela and inject that capital into the black market (and will get rich by doing it).
#Rafael Morante on Jan 21, 2014 :
Hi Shay!, sorry I didn't catch your post earlier!. Perhaps an example could clarify what I'm talking about:

Venezuela's minimum wage is 3,270 VEF (monthly); the government currency exchange rate control sets the exchange rate at 6.3 VEF f/e USD, that means roughly 520 USD. Black market price currently floats around 72 VEF f/e USD; this means a minimum waged Venezuelan makes 45.41 USD a month..

The reason why black market currency inflates is quite simple: the official exchange rate is almost nonexistent... Private businesses don't have access to it to continue functioning; they have to go into the black market and since their op-cost raises, so does pricing in local currency for virtually any commodity you can think of (Keep in mind that Venezuelan Commercial Policy is a huge fail, private foreign investments have been withdrawn and local production is almost nonexistent as well: basic goods are all imported)

The result is a highly inflationary economy..

Differential (for the private sector) to get the low-cost hard currency comes down to jumping through a lot of hoops or having the right government connections, and even then the amounts awarded (if any) often don't cover the actual needs, so incursion into the black market is quite common: every commercial activity right now responds to the black market currency.

This also applies to "natural citizens" (meaning a non-corporate figure)... If you, as a citizen, want to: Travel abroad on vacations, to Study or to Receive medical treatment. There's a cumbersome amount of paperwork to do and a big list of requirements to regulate foreign currency designation and approvals.

For Vacations, for instance, you could only get 500USD max. in cash and 3000USD max. in Credit Cards (which also have to comply with specific requirements: gotta be 3 credit cards max. and all from the same bank, have to be older than 6 months, etc.)... The amounts awarded here could be less, it depends on where you are travelling to and the length of the trip. For almost any other case (medical treatment, studies) you are required to have a bank account outside Venezuela (in foreign currency, of course) as the amount typically approved in cash is very little.
#Shay on Dec 24, 2013 :
Rafael Morante based on what you have said everyone would have to exchange their money on the black market then pay for everything in U.S. currency. Does this mean the whole country operates in allies. If not and there is only a handful of people making exchanges on the black market I still do not understand the amount legally a person makes and how much they legally have to pay for rent. No matter how you slice and dice it the amounts do not make any sense to me.
#Rafael Morante on Dec 17, 2013 :
To all people that doesn't understand Venezuelan Economy Dynamics and are confused because the contradictory data: Venezuela has a Currency Exchange control since year 02-03'(roughly 12 to 13 years now) and there's strong government restriction to Dollars...

Common Venezuelans have to jump through an impossible series of hoops to obtain a very little amount of dollars for travel, imports or whatever economic activity. This has created a parallel market in which the dollar value ranges from 6 to 10 times its "official" government-sanctioned value... That's why you see absurd prices in many categories compared to actual income; parallel markets.
#shay on Dec 16, 2013 :
I have a question how can you make 160.00 a month and pay rent of 800-1500 a month. this does not make sense.
#Ricardo Alberto Duran on Oct 05, 2013 :
Average Monthly Disposable Salary (After Tax: 814.00$? Really? I live in Caracas, and that would be VEF Bs 5128,20 and that's absolutely WRONG!!! I'm using official exchange rate.

Actually, the salary is VEF Bs 2.702,72 which turns out to be USD 429 (before ANY tax). Plus, most of the private services, food and drinks, clothes and another expenses ar calculated day after day based upon a parallel currency (which has skyrocketed to 1 USD = 47,50 VEF today).
#boris ackerman on Aug 30, 2013 :
I Totally agree with Javier
#kevin on Aug 29, 2013 :
What is the price of Rum in bvf ?
We want to buy and export to the UK
#Javier01 on Aug 19, 2013 :
I think we should use the official exchange rate of 6.30 Bsf per US dollar in order to be consistent with the data we feed the database. That will yield a more complete idea on the real purchasing power and the cost of different goods
#Gordo on May 14, 2013 :
If you look at the classifieds, the small homes and apartments for sale are roughly equal to two cars! Also, the official rate of the Bolivar (Bvf) is
1 dollar = 6.3 Bvf

On the black market:
1 dollar = 26.33

#Cadukeson on Apr 15, 2013 :
i work programing to the government, and they pay 4100 bs = 160 $ per month
#Giancarlo on Mar 04, 2013 :
is there any way to clean up this data again since prices have changed and the current official exchange ratio has changed as well?
#axz on Jan 25, 2013 :
how much is to hire software programmer with 3-5 yrs of experience in venezuela.?
#David on Jan 23, 2013 :
Black market is USD 1 - Bs. 18.01 today. These prices are represented in the official rate Bs. 4.30 per USD, but actually we have to pay for everything except food and gas in international prices. Minimum monthly wage is Bs. 2047, equivalent to USD 114 in black market, but renting an apartment costs approximately USD 500
#Giancarlo on Jul 17, 2012 :
well actually the official exchange ratio is 4.3 VEF per USD since the special exchange ratio for neccessity goods was droped on 2012. Besides that in this kind of subject we shouldn't use the black market price since it would lead to a huge deformation of info represented in this page making it worthless for any real comparison, so even if in our economy there are goods with a price calculated with the exchange ration in the black market, we should calculate the price of these goods at the official exchange ratio otherwise the relationship between the salary's data and the good prices will be broken.
#laser889 on Apr 24, 2012 :
Black market: about 8.2~9.0
#Avery Ecklein on Feb 21, 2012 :
Exchange rate (VEF to 1 USD):

Neccesity goods: 2.65

Luxury goods: 4.30

Black market: about 7.50
#Mladen on Jan 12, 2012 :
the price of cars is going towards more realistic figure, thanks
#Giancarlo on Jan 11, 2012 :
the price of cars are completely wrong as you might see in the following link
http://www.mitsubishi-motors.com.ve/Productos/Actuales/Lancer/Lancer-GLX-1-6-M-T-(GNV).aspx

and the currency ratio between USD and Bs is 4.3 Bs per USD

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