Thursday 29 September 2022

Costa Rica has the lowest inflation in the region

In the first seven months, the accumulated barely reached 0.55% and the interannual to 1.44% ; El Salvador has the highest, according to regional indexes

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29 September 2022 - At The Banks - BCCR

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QCOSTARICA – Costa Rica registered the lowest inflation and El Salvador the highest in the Central American region, during the first seven months of the year.

Between January and July, the indicator rose just 0.55% in Costa Rica, while the interannual variation (which is calculated by dividing the level of the month under study with that of the same month of the previous year), stood at 1.44 %.

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For its part, El Salvador registered an accumulated rate of 3.71% and an interannual rate of 3.43%.

Inflation, measured by the Consumer Price Index (CPI), is the widespread and sustained increase in the prices of goods and services in the market over a period of time.

Keeping this indicator low generates benefits, but, if it is prolonged, it can alert that something is not right in the economy.

Read more: Flaws in Bukele’s digital wallet ruin bitcoin debut in El Salvador

For example, consumers benefit, because their money has more value and not necessarily because the prices of products fall, but because they will increase at a slower rate.

In addition, it encourages investment, resources are allocated for other priorities and, in general, uncertainty is reduced.

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But also, the low indicator for a long time could be the repercussion of the lack of dynamism in the economy and other indices such as unemployment, as is the national case.

The data for this study came from the central banks and official entities that carry out the measurements in the different countries of the region.

Ranking

Central American inflation in the first seven months 2021

  1. Costa Rica: Cumulative – 0.55%;  Interannual – 1.44%
  2. Guatemala: Cumulative  1.60%; Interannual – 3.82%
  3. Honduras: Cumulative – 2.14%; Interannual –  4.26%
  4. Nicaragua: Cumulative – 2.60%; Interannual – 4.12%
  5. El Salvador: Cumulative – 3.71%; Interannual – 3.43%

 

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