Three-dimensional (3D) digital image correlation (DIC) is becoming widely used to characterize the behavior of structures undergoing 3D deformations. However, the use of 3D-DIC can be challenging under certain conditions, such as high magnification, and therefore small depth of field, or a highly controlled environment with limited access for two-angled cameras. The purpose of this study is to compare 2D-DIC and 3D-DIC for the same inflation experiment and evaluate whether 2D-DIC can be used when conditions discourage the use of a stereo-vision system. A latex membrane was inflated vertically to 5.41 kPa (reference pressure), then to 7.87 kPa (deformed pressure). A two-camera stereo-vision system acquired top-down images of the membrane, while a single camera system simultaneously recorded images of the membrane in profile. 2D-DIC and 3D-DIC were used to calculate horizontal (in the membrane plane) and vertical (out of the membrane plane) displacements, and meridional strain. Under static conditions, the baseline uncertainty in horizontal displacement and strain were smaller for 3D-DIC than 2D-DIC. However, the opposite was observed for the vertical displacement, for which 2D-DIC had a smaller baseline uncertainty. The baseline absolute error in vertical displacement and strain were similar for both DIC methods, but it was larger for 2D-DIC than 3D-DIC for the horizontal displacement. Under inflation, the variability in the measurements were larger than under static conditions for both DIC methods. 2D-DIC showed a smaller variability in displacements than 3D-DIC, especially for the vertical displacement, but a similar strain uncertainty. The absolute difference in the average displacements and strain between 3D-DIC and 2D-DIC were in the range of the 3D-DIC variability. Those findings suggest that 2D-DIC might be used as an alternative to 3D-DIC to study the inflation response of materials under certain conditions.