Inflation Paraguay 2023
Average inflation: 4.7%
Current Inflation
Inflation is high at 4.7%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 7.8%. The lowest inflation was in August at 2.9%.
- Highest month
- January: 7.8%
- Lowest month
- August: 2.9%
- Difference
- 4.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 6.0%. The lowest price increase was in Energy with an average of 2.5%.
- Highest increase
- Food: 6.0%
- Lowest increase
- Energy: 2.5%
Historical Context
Current inflation is around the 5-year average of 4.8%.
- 5-year average
- 4.8%
- 10-year average
- 4.4%
- All-time high (2008)
- 10.2%
- All-time low (2020)
- 1.8%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-5.1 percentage point).
- Change vs. previous year
- -5.1 percentage points
- Largest monthly swing
- July: -7.6 percentage points
ECB Target
Inflation is 2.7% 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 €104.70 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 | 7.8% | -0.1 |
| February | 6.9% | -2.4 |
| March | 6.4% | -3.7 |
| April | 5.3% | -6.5 |
| May | 5.1% | -6.3 |
| June | 4.2% | -7.3 |
| July | 3.5% | -7.6 |
| August | 2.9% | -7.6 |
| September | 3.5% | -5.8 |
| October | 3.5% | -4.6 |
| November | 3.2% | -5.1 |
| December | 3.7% | -4.4 |
| Average | 4.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.