Food price inflation in Latin America 2023

In September 2023, the food inflation rate of Latin America and the Caribbean increased by 81.67 percent compared to the same month of the previous year.

That month, the countries with the highest food price inflation included Venezuela and Argentina. The countries with some of the lowest food price inflation included Panama and Ecuador.

Food price inflation in Latin America and the Caribbean from January 2018 to September 2023

Characteristic	Food price inflation
Jan-2018	5.08%
Feb-2018	4.86%
Mar-2018	4.36%
Apr-2018	3.7%
May-2018	4.13%
Jun-2018	5.81%
Jul-2018	6.33%
Aug-2018	7%
Sep-2018	8.5%
Oct-2018	10.02%
Nov-2018	11.05%
Dec-2018	11.36%
Jan-2019	11.73%
Feb-2019	13.02%
Mar-2019	14.61%
Apr-2019	15.53%
May-2019	15.51%
Jun-2019	14.44%
Jul-2019	14.38%
Aug-2019	14.45%
Sep-2019	14.42%
Oct-2019	13.79%
Nov-2019	14.6%
Dec-2019	15.84%
Jan-2020	16.45%
Feb-2020	16.31%
Mar-2020	16.34%
Apr-2020	17.33%
May-2020	17.28%
Jun-2020	16.95%
Jul-2020	16.57%
Aug-2020	17.11%
Sep-2020	17.38%
Oct-2020	19.06%
Nov-2020	18.78%
Dec-2020	18.71%
Jan-2021	19.26%
Feb-2021	19.7%
Mar-2021	19.68%
Apr-2021	19.93%
May-2021	21.48%
Jun-2021	22.81%
Jul-2021	24.33%
Aug-2021	24.18%
Sep-2021	24.31%
Oct-2021	23.86%
Nov-2021	23.41%
Dec-2021	23.7%
Jan-2022	24.33%
Feb-2022	27.4%
Mar-2022	30.43%
Apr-2022	32.41%
May-2022	33.34%
Jun-2022	35.05%
Jul-2022	37.47%
Aug-2022	41.07%
Sep-2022	43.8%
Oct-2022	46.25%
Nov-2022	47.42%
Dec-2022	48.56%
Jan-2023	50.57%
Feb-2023	53.09%
Mar-2023	55.12%
Apr-2023	59.26%
May-2023	61.16%
Jun-2023	60.84%
Jul-2023	61.22%
Aug-2023	71.28%
Sep-2023	81.67%

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Release date

January 2024

More information

Region

LAC

Survey time period

January 2018 to September 2023

Special properties

Weighted average, base year is 2015

Supplementary notes

Figures have been rounded.

From the source:

The regional food CPI is calculated using a weighted average of food and general CPI of countries under each region using the weights of Household final consumption expenditure (including non-profit institutions serving households) in 2015 in USD at constant prices of 2015. Household final consumption expenditure is available under https://unstats.un.org/unsd/snaama, in table “GDP and its breakdown at constant 2015 prices in US Dollar”.

Food inflation compared to the same month of the previous year.

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