Inflation Nicaragua 2023
Average inflation: 8.4%
Current Inflation
Inflation is very high at 8.4%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 11.1%. The lowest inflation was in November at 5.6%.
- Highest month
- February: 11.1%
- Lowest month
- November: 5.6%
- Difference
- 5.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 11.0%. The lowest price increase was in Energy with an average of 2.6%.
- Highest increase
- Food: 11.0%
- Lowest increase
- Energy: 2.6%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 6.6%.
- 5-year average
- 6.6%
- 10-year average
- 5.5%
- All-time high (2008)
- 19.9%
- All-time low (2016)
- 3.5%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -2.1 percentage point.
- Change vs. previous year
- -2.1 percentage points
- Largest monthly swing
- October: -6.2 percentage points
ECB Target
Inflation is 6.4% 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 €108.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 10.9% | +3.2 |
| February | 11.1% | +3.3 |
| March | 10.4% | +1.7 |
| April | 9.5% | -0.4 |
| May | 9.5% | -1.1 |
| June | 9.9% | -0.5 |
| July | 8.2% | -3.3 |
| August | 7.5% | -4.7 |
| September | 7.2% | -4.3 |
| October | 6.0% | -6.2 |
| November | 5.6% | -5.8 |
| December | 5.6% | -6.0 |
| Average | 8.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.