Inflation Palestine 2023
Average inflation: 5.9%
Current Inflation
Inflation is very high at 5.9%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 15.2%. The lowest inflation was in June at 3.1%.
- Highest month
- December: 15.2%
- Lowest month
- June: 3.1%
- Difference
- 12.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 5.5%. The lowest price increase was in Energy with an average of 5.5%.
- Highest increase
- Energy: 5.5%
- Lowest increase
- Energy: 5.5%
Historical Context
Current inflation is 3.5% higher than the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 1.5%
- All-time high (2008)
- 9.9%
- All-time low (2020)
- -0.7%
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
- December: +11.1 percentage points
ECB Target
Inflation is 3.9% 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 €105.90 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 | 3.7% | +1.0 |
| February | 4.0% | +1.0 |
| March | 4.3% | +0.7 |
| April | 3.9% | +0.1 |
| May | 3.9% | +0.5 |
| June | 3.1% | -1.4 |
| July | 3.6% | -0.4 |
| August | 4.9% | +1.7 |
| September | 5.0% | +1.0 |
| October | 7.2% | +2.8 |
| November | 11.4% | +7.1 |
| December | 15.2% | +11.1 |
| Average | 5.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.