Inflation Belize 2023
Average inflation: 4.4%
Current Inflation
Inflation is high at 4.4%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 6.6%. The lowest inflation was in July at 2.8%.
- Highest month
- January: 6.6%
- Lowest month
- July: 2.8%
- Difference
- 3.8 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 1.6% higher than the 5-year average of 2.8%.
- 5-year average
- 2.8%
- 10-year average
- 1.7%
- All-time high (2008)
- 6.4%
- All-time low (2009)
- -1.1%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -1.9 percentage point.
- Change vs. previous year
- -1.9 percentage points
- Largest monthly swing
- July: -4.5 percentage points
ECB Target
Inflation is 2.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 6.6% | +2.5 |
| February | 6.5% | +2.0 |
| March | 5.9% | +0.2 |
| April | 4.4% | -1.4 |
| May | 3.7% | -2.9 |
| June | 3.3% | -3.4 |
| July | 2.8% | -4.5 |
| August | 3.4% | -4.0 |
| September | 4.2% | -2.9 |
| October | 4.4% | -2.3 |
| November | 4.2% | -2.3 |
| December | 3.7% | -3.0 |
| Average | 4.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.