Inflation San Marino 2023
Average inflation: 6.0%
Current Inflation
Inflation is very high at 6.0%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 7.3%. The lowest inflation was in December at 3.0%.
- Highest month
- March: 7.3%
- Lowest month
- December: 3.0%
- Difference
- 4.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 3.4%. The lowest price increase was in Energy with an average of 3.4%.
- Highest increase
- Energy: 3.4%
- Lowest increase
- Energy: 3.4%
Historical Context
Current inflation is 3.3% higher than the 5-year average of 2.7%. This approaches the highest level since records began (6.0% in 2023).
- 5-year average
- 2.7%
- 10-year average
- 2.4%
- All-time high (2023)
- 6%
- All-time low (2020)
- -0.1%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by +0.7 percentage point.
- Change vs. previous year
- +0.7 percentage points
- Largest monthly swing
- December: -4.3 percentage points
ECB Target
Inflation is 4.0% 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 €106.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 7.0% | +3.3 |
| February | 7.1% | +3.1 |
| March | 7.3% | +3.1 |
| April | 6.8% | +2.0 |
| May | 6.5% | +1.5 |
| June | 5.8% | +0.1 |
| July | 6.1% | +0.8 |
| August | 6.5% | +1.3 |
| September | 6.1% | +0.3 |
| October | 5.0% | -1.1 |
| November | 4.2% | -2.5 |
| December | 3.0% | -4.3 |
| Average | 6.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.