Inflation Rate (CPI): Tonga

Analysis# Tonga Inflation Rate (CPI) Tonga's inflation rate stood at 2.2% in 2026, reflecting a return to moderate price stability after recent volatility. The country has experienced dramatic swings since 1980, ranging from a severe deflation of -7.3% in 1980 to a peak of 29.9% in 1986. Overall, inflation has increased 130.1% across the full period, though current levels remain well below historical extremes. The most striking shift occurred in 2022–2023, when inflation surged from 6.5% to 12.6%—the highest point in nearly four decades. This spike reflected global commodity price pressures and supply chain disruptions affecting the island economy. The subsequent decline to 2.2% by 2026 signals successful disinflation, with forecasts suggesting Tonga has stabilized within a sustainable, low-inflation range going forward.