Inflation Libya 2023
Average inflation: 2.4%
Inflation in 2023
Inflation is normal at 2.4%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.8%. The lowest inflation was in November at 1.8%.
- Highest month
- January: 3.8%
- Lowest month
- November: 1.8%
- Difference
- 2.0 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 0.6 percentage points higher than the 5-year average of 1.8%.
- 5-year average
- 1.8%
- 10-year average
- 8.7%
- All-time high (2016)
- 25.9%
- All-time low (2019)
- -2.1%
Trend
Over the period 2021-2023, inflation has remained relatively stable. Compared to 2022, inflation has fallen by 2.1 percentage points.
- Change vs. previous year
- -2.1 percentage points
- Largest monthly swing
- March: -3.3 percentage points
ECB Target
Inflation is 0.4 percentage points 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 LYD 100 this year will cost approximately LYD 102.400 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 3.8% | -0.3 |
| February | 3.1% | -1.7 |
| March | 2.4% | -3.3 |
| April | 2.3% | -3.2 |
| May | 2.5% | -2.7 |
| June | 2.4% | -2.6 |
| July | 2.1% | -2.2 |
| August | 2.1% | -2.2 |
| September | 2.1% | -2.2 |
| October | 2.0% | -2.1 |
| November | 1.8% | -1.1 |
| December | 1.8% | -2.3 |
| Average | 2.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.