Inflation Tonga 2023
Average inflation: 6.4%
Current Inflation
Inflation is very high at 6.4%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 9.7%. The lowest inflation was in August at 2.9%.
- Highest month
- January: 9.7%
- Lowest month
- August: 2.9%
- Difference
- 6.8 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 1.6% higher than the 5-year average of 4.8%.
- 5-year average
- 4.8%
- 10-year average
- 4%
- All-time high (2022)
- 11%
- All-time low (2015)
- -1%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-4.6 percentage point).
- Change vs. previous year
- -4.6 percentage points
- Largest monthly swing
- September: -11.1 percentage points
ECB Target
Inflation is 4.4% 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 €106.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 9.7% | +1.5 |
| February | 8.7% | -0.3 |
| March | 9.4% | +1.5 |
| April | 6.9% | -2.5 |
| May | 6.6% | -4.6 |
| June | 7.3% | -4.0 |
| July | 4.6% | -8.5 |
| August | 2.9% | -10.9 |
| September | 3.0% | -11.1 |
| October | 6.1% | -7.1 |
| November | 4.9% | -6.2 |
| December | 6.7% | -2.6 |
| Average | 6.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.