In 2023, no Latin American or Caribbean country registered deflation in their average consumer prices. Costa Rica had the lowest change compared to the previous year with 0.52 percent. In contrast, the average inflation rate in Venezuela amounted to about 337.46 percent.

Latin America among the highest inflation rates in the world In 2023, the average inflation rate of the region was around 14.41 percent. Which is significantly higher than the global average of 6.78 percent. Some of that is explained by countries such as Venezuela, Argentina, and Suriname ranking in the top then of countries with the highest inflation rate in the world.

Chronic inflation in Latin America Chronic inflation is often defined as persistent high inflation throughout a long time. Some of the common examples of this problem are Venezuela and Argentina, both countries had episodes of hyperinflation, with price increases considerably over 50 percent per month in both cases. The last few years, the global crisis and economic sanctions, attenuated the situation with Argentina reaching once again three-digit inflation and Venezuela exceeding 63,000 percent inflation in 2019.

This statistic shows the average inflation rate in Latin America and the Caribbean from 2019 to 2023, with projections up until 2029. In 2023, the average inflation rate in Latin America and the Caribbean amounted to about 14.78 percent compared to the previous year.

The average for 2024 based on 20 countries was 14.59 percent. The highest value was in Argentina: 139.71 percent and the lowest value was in Costa Rica: 0.88 percent. The indicator is available from 1980 to 2028. Below is a chart for all countries where data are available.

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Graph and download economic data for Inflation, consumer prices for Developing Countries in Latin America and Caribbean (FPCPITOTLZGLAC) from 1960 to 2023 about Caribbean Economies, Latin America, consumer prices, consumer, and inflation.

Food price inflation in Latin America and the Caribbean reached 147.11 percent in September 2024 compared to the same month the previous year. This dramatic increase reflects a persistent trend of rising food costs across the region, with some countries experiencing particularly severe inflationary pressures. The surge in food prices has significant implications for household budgets and food security throughout Latin America. Regional variations and contributing factors While the overall trend shows a sharp increase in food prices, there are notable differences among countries in the region. Venezuela and Argentina consistently rank among the nations with the highest food price inflation, while Panama and Ecuador have experienced relatively lower rates. The consumer price index for food in Latin America and the Caribbean jumped from 425.38 points in June 2023 to 1,223.53 points in June 2024, representing an increase of over 158 percent. This rapid escalation in food costs has put considerable strain on consumers across the region. Global context and consumer impact The food price inflation crisis in Latin America is part of a broader global trend. Zimbabwe, for instance, recorded the highest level of real food inflation worldwide between December 2023 and April 2024, with a 46 percent increase compared to the previous year. Argentina followed with a 20 percent increase. The impact on consumers is significant, with many finding it increasingly difficult to afford healthy and sustainable food options. In Argentina, 62 percent of respondents reported difficulty in purchasing such foods due to a lack of affordability, an increase of seven percentage points from 2021. Similar challenges were observed in other Latin American countries, including Peru, where the share of respondents reporting difficulties rose from 19 percent to 25 percent between 2021 and 2023.

This data package includes the underlying data and files to replicate the calculations, charts, and tables presented in Inflation Targets in Latin America, PIIE Working Paper 19-19.

If you use the data, please cite as: De Gregorio, José. (2019). Inflation Targets in Latin America. PIIE Working Paper 19-19. Peterson Institute for International Economics.

As of 2023, Nicaragua registered the highest inflation rate in Central America with 8.44 percent, followed by Honduras and Guatemala. In contrast, Costa Rica registered the lowest average inflation of the region. This indicator measures inflation based upon the year on year change in the average consumer price index. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services. The values shown here refer to the year-on-year change in this index measure, expressed in percent.

In 2024, it was estimated that the prevalence of severe food insecurity in Venezuela amounted to about 15.8 percent of the population. It was expected that this number would go up to 16.4 percent in 2029.

In September 2024, the country with the highest food price inflation compared to the same month of the previous year in Latin America and the Caribbean was Argentina, with an inflation rate of 285.12 percent. Ranking second was Venezuela, with 47.91 percent. In contrast, Costa Rica was one of the two only countries in the region where the inflation rate decreased by 1.49 percent.

ABSTRACT This paper aims to evaluate the performance of the monetary policy of inflation targeting regime in the Latin America countries from 2001 to 2014, with monthly data. For this purpose, a VEC model (vector error correction) is applied to running data to analyze the long-term function and the impulse response function. The results pointed out that the adoption of the target system has contributed to reduce the inflation rate and its volatility and the fluctuations in the rate of growth in activity level. The estimated parameters of the long-term speed of adjustment of the price index have indicated strong reaction by the monetary authorities to change inflation rate via short-term interest rate. These adjustments are also noted in the level of activity and the exchange rate for most countries, but with less level of speed. The impulse response function confirmed these results. Therefore, the monetary policy was effective to control inflation, especially in Peru, Colombia and Chile. In Brazil and Mexico, the effectiveness of monetary policy has only been observed more recently.

In September 2024, the average consumer price index (CPI) for food in Latin America and the Caribbean amounted to 1,325.45 points. In contrast, a year earlier, this value was of 536.37. This represents an increase of over 147 percent. That month, the countries with the highest food CPI included Venezuela and Argentina. The countries with some of the lowest food price inflation included Panama and Ecuador.

In September 2024, the consumer price index (CPI) in Latin America and the Caribbean amounted to 1,217.63 points. In contrast, a year earlier, this value stood at 481.15. This represents an increase of about 153 percent.

I study whether and how US shocks are transmitted to eight Latin American countries. US shocks are identified using sign restrictions and treated as exogenous with respect to Latin American economies. Posterior estimates for individual and average effects are constructed. US monetary shocks produce significant fluctuations in Latin America, but real demand and supply shocks do not. Floaters and currency boarders display similar output but different inflation and interest rate responses. The financial channel plays a crucial role in the transmission. US disturbances explain important portions of the variability of Latin American macrovariables, producing continental cyclical fluctuations and, in two episodes, destabilizing nominal exchange rate effects. Policy implications are discussed.

ABSTRACT This paper discusses three interdependent topics. The first is that the economic reforms implemented in Latin America after the mid-1980s were not sufficient to ensure exchange rate stability in the region. The second is that there are favorable conditions to start the process of macroeconomic convergence between Latin American countries. The third topic refers to the strategic role to be played by Argentina, Brazil, Canada, and Mexico as reducing the degree of asymmetry generated by the presence of the American economy.

This scatter chart displays inflation (annual %) against net migration (people) and is filtered where the region is South America. The data is about countries per year.

Der Durchschnitt für 2024 betrug 14.59 Prozent, bei einem Höchstwert von 139.71 Prozent (Argentinien) und einem Minimum von 0.88 Prozent (Costa Rica). Unten befindet sich ein Diagramm für alle Länder, in denen Daten zum Themazur Verfügung stehen.

The inflation rate for both Africa, the Middle East, and Latin America and the Caribbean reached more than 12 percent in 2023. Among the provided continents or regions, Asia and the Pacific had the lowest inflation rate that year. Consumer prices increased around the world following the COVID-19 pandemic and the Russian invasion of Ukraine. Inflation and food security Increases in food costs are one of the most prominent impacts of inflation globally. In the United Kingdom, for example, consumers have indicated that they have worried more about food costs in 2023 than in previous years. Meanwhile, in Canada, only a small fraction of survey respondents have said that inflation has had little impact on household food costs. Consumers have responded to rising food costs through various coping mechanisms. For example, Italian consumers have indicated that they purchase less unnecessary products, cut down on waste, and buy more discounted items in order to save costs. Changing consumer behvaiors Outside of food consumption, consumers have changed their purchasing behaviors with other types of goods and services. Surveying has indicated that nearly 60 percent of consumers have adjusted their shopping habits due to inflation. When holiday shopping in 2023, over 50 percent of Americans and over one third of British consumers said inflation had considerable impact on their holiday shopping. By generation, the Millenial generation has suffered the most due to rising inflation, while older generations have experienced less serious impacts.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in South (CUUR0300SETA) from Dec 1997 to Feb 2025 about south, used, vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

The Consumer Price Index gauges the price changes in a basket of goods and services in a defined time period. In Argentina, the CPI in April 2024 was 289 percent higher than the one registered the same month of the previous year, with this figure being the largest monthly inflation rate since, at least, the beginning of 2018. The Argentinian inflation rate has been experiencing a steep increase from December 2020 onwards, when the decreasing trend witnessed since December 2019 came to an end. Long history of inflation in Latin America High inflation rates are nothing new in Latin America. In 2023, the region's inflation rate was 14.41 percent, while the global average was much lower at 6.78 percent. Nonetheless, the main drivers of this are Venezuela and Argentina, both being in the upper table of countries with the highest inflation rates in the world. During the last few years, Venezuela entered a period with five-digits inflation rates, having to issue a new currency and implementing new policies to control price increases.

A history of hyperinflation During the last couple of years, inflation has been a constant among the main problems the Argentine society faces. The country returned to a three-digit inflation rate with former president Alberto Fernández, and the constant price increases took a toll on households across the board. Nevertheless, the problem is far from a recent one or the worst it's ever been, in 1989 and 1990, the inflation rate was over 2,000 percent, reaching for the status of hyperinflation. Commonly, hyperinflation is defined as price increases with over 50 percent per month.