San Marino's inflation, consumer prices (annual % growth) was 2.3% in 2025, the latest year in the World Bank's World Development Indicators. That is up 2.15 percentage points from 0.15% in 2015.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 2.3% | 2025 |
| Five years earlier | -0.13% | 2020 |
| Ten years earlier | 0.15% | 2015 |
| Highest | 5.93% | 2023 |
| Lowest | -0.13% | 2020 |
| Average since 2016 | 1.96% | 2016–2025 |
| First recorded | 1.43% | 2004 |
What the numbers say
In 2025, San Marino's inflation, consumer prices (annual % growth) rose 1.05 percentage points on 2024 (from 1.24% to 2.3%).
Across the 20 yearly changes before that (2005 to 2024), the average change was −0.01 percentage points and a typical year strayed about 1.64 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 3.71 percentage points in 2022 and the biggest yearly fall was 4.69 percentage points in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 there is no clear straight-line trend: a straight line explains 26% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2025, San Marino had the 105th highest value of the 169 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| San Marino | 2.3% | 2025 |
| World | 3.04% | 2025 |
| Europe & Central Asia | 3.75% | 2025 |
| High income | 2.34% | 2025 |
Closest to San Marino in the 2025 ranking
- Cambodia — 101st of 169: 2.35%
- Cabo Verde — 102nd of 169: 2.34%
- Portugal — 103rd of 169: 2.34%
- Luxembourg — 105th of 169: 2.26%
- Samoa — 106th of 169: 2.21%
- Ireland — 107th of 169: 2.21%
What this measures
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.
Regional and income-group figures are computed by the World Bank as a median.
All 22 values
| Year | Inflation, consumer prices (annual % growth) |
|---|---|
| 2025 | 2.3 |
| 2024 | 1.24 |
| 2023 | 5.93 |
| 2022 | 5.33 |
| 2021 | 1.62 |
| 2020 | -0.1334 |
| 2019 | 0.4727 |
| 2018 | 1.16 |
| 2017 | 1.01 |
| 2016 | 0.6441 |
| 2015 |
Inflation, consumer prices (annual % growth) in nearby economies
- Albania — 2.15% (2025)
- Armenia — 3.31% (2025)
- Austria — 3.53% (2025)
- Azerbaijan — 5.62% (2025)
- Belarus — 6.6% (2025)
- Belgium — 2.47% (2025)
- Bosnia and Herzegovina — 3.98% (2025)
- Bulgaria — 4.58% (2025)
- Croatia — 3.69% (2025)
- Cyprus — 0.13% (2025)
More financial sector data for San Marino
- Official exchange rate (LCU per US$, period average) — US$0.89 (2025)
- DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
- GDP deflator (base year varies by country) — 132.36 (2023)
- GDP deflator, linked series (base year varies by country) — 132.36 (2023)
- Inflation, GDP deflator (annual % growth) — 7.36% (2023)
- Inflation, GDP deflator, linked series (annual % growth) — 7.36% (2023)
- Deposit interest rate (%) — 1.55% (2025)
- Lending interest rate (%) — 4.62% (2025)
- Interest rate spread (lending rate minus deposit rate, %) — 3.07% (2025)
Reading data like this
Questions people ask
- What is San Marino's inflation, consumer prices (annual % growth)?
- 2.3% in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 2004?
- It is up 0.86 percentage points from 1.43% in 2004. The highest value was 5.93% in 2023 and the lowest -0.13% in 2020.
- How does San Marino rank?
- 105th highest of 169 economies with data for 2025.
- Is the latest change in inflation, consumer prices (annual % growth) unusual for San Marino?
- In 2025, San Marino's inflation, consumer prices (annual % growth) rose 1.05 percentage points on 2024 (from 1.24% to 2.3%). Across the 20 yearly changes before that (2005 to 2024), the average change was −0.01 percentage points and a typical year strayed about 1.64 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator FP.CPI.TOTL.ZG, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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