The dramatic rise in inflation was driven by the strengthening of the USA economic sanctions on the country last month, as well as the refusal by President Nicolas Maduro's administration to accept humanitarian aid from Western nations.
Guaido said he's mobilizing caravans of Venezuelans to deliver the humanitarian aid across the Colombian border on February 23, a month after he declared himself the interim president and called for Maduro to step down.
"[Mr Guaido] will announce the day when, from Colombia, from the islands by sea, and from Brazil the humanitarian aid will arrive simultaneously", Mr Toledo said.
Venezuela's economic crisis has left people from all walks of life struggling for food, basic living essentials and medicine.
CUCUTA, Colombia (AP) - Nearly three weeks after the Trump administration backed an all-out effort to force out President Nicolas Maduro, the embattled socialist leader is holding strong and defying predictions of an imminent demise. But anti-Maduro street protests have come and gone, and large-scale military defections have failed to materialise.
Last week, Lester Toledo, Guaido's representative in the aid mission, suggested it could be moved by masses of people converging on the border to carry the food and medical supplies across.
The rallies will take place almost three weeks to the day that opposition chief Juan Guaido invoked a constitutional provision to declare himself Venezuela's legitimate president, arguing that Maduro's re-election a year ago was a sham. "We have spoken very clearly and we are on a road of hope, of change that is getting closer", he said.More news: Alexandria Ocasio-Cortez joins protest outside White House, calls for TPS amnesty
He said that blocking the aid would constitute a "crime against humanity", but top military leaders still stand with leftist leader Maduro.
"First, we want to reconstruct the electoral branch and an electoral mechanism that will be trustworthy, where not the slightest doubt exists that the will of the voters will be reflected in the results", he added.
Guaid will press the Organization of American States to provide support to hold new presidential elections, his representative to the body Gustavo Tarre said ahead of Friday's special meeting at the OAS on the situation in Venezuela. "We are motivated by work, production, and growth of our economy".
"There are people responsible for this and the regime should know it", Guaido said after attending Sunday mass with his wife and 20-month-old baby.
He also called on all Venezuelans to help hand out the supplies.
The latter signaled he is ready to have a face-to-face with his opponents in case they needed to be heard by the government, but the opposition chose to neglect the offer, "probably because they are guided by the US", Sergey Lavrov commented on Tuesday.
Pope Francis has said he would also be prepared to mediate but Guaido has rejected negotiations with Maduro, believing he would use them to buy time.