Venezuela is a country ruled by politics. Irrespective of the socialist system instituted by President Hugo Chávez, with vigilant price controls for a range of basic products and a wave of nationalizations and expropriations, life in Caracas perhaps more than in any other Latin American capital, is still defined by its reliance on one volatile commodity: oil.
Alcohol & Tobacco costs are very high compared to other places sitting at 57th more expensive in comparison to 780 other places, for items such as alcohol at a bar, beer, locally produced spirit, whiskey, wine (where alcohol is legally sold) and tobacco related products.
The cost of Clothing is also very high and Caracas is the 4th most expensive for items such as business suits, casual clothing, children's clothing, coats, evening wear, footwear, hats, shoe repairs and underwear.
Communication costs are average compared to other places for various costs such as call charges, home telephone rental, Internet connection, mobile data costs, mobile phone contract and service provider fees. There are 389 places that are more expensive, and 390 places that are less expensive for communication.
Education costs are very high compared to other places for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. There is 1 place that is more expensive.
PreNursery - N-PK: $10,078;
Furniture & Appliance costs are very high compared to other places for items such as a DVD player, fridge / freezer, furniture, household equipment, iron, kettle, light bulbs, microwave, television, toaster, vacuum cleaner and washing machine. There is 1 place that is more expensive, of the 780 comparable places.
Grocery costs are the highest compared to all other 780 places for items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning materials, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs.
Healthcare costs are very high with Caracas sitting at the 6th most expensive place for general healthcare, general practitioner consultation rates, healthcare/medical insurance, hospital private ward daily rate and non-prescription medicine.
Household Accommodation costs place Caracas at the 27th most expensive for items such as accommodation, apartment, flat, house, villa, rent, electricity, household fuels, household gas, water, and local property rates / residential taxes / levies.
Miscellaneous costs for items such as dry cleaning, general goods, general services, linen, magazines, maid, newspapers, office supplies, postage stamps and stationery place Caracas at 81 more expensive, e.g. a subscription to the Economist for 51 weeks can cost up to $337.
Personal Care for items such as cosmetics, hair care, moisturizer, nappies, pain relief tablets, shampoo, soap, sun block, toilet paper and toothpaste, are very high with 47 places more expensive.
Recreation and Culture costs place Caracas at 49th most expensive for items such as books, camera, cinema tickets, fitness/health club membership, sports goods and theatre tickets.
Restaurants, Meals Out and Hotel costs are very high compared to other places for items such as a business dinner, dinner at a family restaurant (non-fast food), 4 star and 5 star hotel rates and take away meal (fast food). There are 6 places that are more expensive.
Personalized cost of living indexes for Caracas in Venezuela are based on the basket groups and comparison location(s) selected in the Calculators.
In terms of the hardship people are likely to experience, assessed in global terms, Caracas in Venezuela is ranked as extreme hardship with a hardship index of 40%.
Cost of Living Rank - The Americas Locations - Overall Cost of Living & All Baskets (Highest to Lowest):