Inflation Guatemala 2023
Average inflation: 6.3%
Current Inflation
Inflation is very high at 6.3%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 9.9%. The lowest inflation was in December at 4.2%.
- Highest month
- February: 9.9%
- Lowest month
- December: 4.2%
- Difference
- 5.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 4.5%. The lowest price increase was in Energy with an average of 4.2%.
- Highest increase
- Core inflation: 4.5%
- Lowest increase
- Energy: 4.2%
Historical Context
Current inflation is 1.4% higher than the 5-year average of 4.9%. This approaches the highest level since records began (6.9% in 2022).
- 5-year average
- 4.9%
- 10-year average
- 4.7%
- All-time high (2022)
- 6.9%
- All-time low (2020)
- 3.2%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -0.6 percentage point.
- Change vs. previous year
- -0.6 percentage points
- Largest monthly swing
- February: +6.9 percentage points
ECB Target
Inflation is 4.3% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €106.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 9.7% | +6.8 |
| February | 9.9% | +6.9 |
| March | 8.7% | +4.5 |
| April | 8.3% | +3.7 |
| May | 6.5% | +0.7 |
| June | 4.9% | -2.7 |
| July | 4.5% | -3.9 |
| August | 4.5% | -4.4 |
| September | 4.7% | -4.3 |
| October | 5.0% | -4.7 |
| November | 4.3% | -4.9 |
| December | 4.2% | -5.0 |
| Average | 6.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.