Wednesday 28 September 2022

Nicaragua: Inflation Keeps Accelerating

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28 September 2022 - At The Banks - BCCR

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In May, the Banco Central de Nicaragua (BCN) reports the CPI rose 6%, reinforcing the upward trend that has been reported since February.

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In February, the indicator stood at 3.3%, in March it was 5.1% and in April, 5.8%. The May figure reinforces the upward trend that is likely to continue for the rest of the year.

The Consumer Price Index (CPI) for May showed a 0.77% monthly increase (0.55% in May 2018), mainly because of the behavior of prices in some goods and services of the Food and non-alcoholic beverages divisions (1.12%), informed the Central Bank of Nicaragua.

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The document indicates that “… In cumulative terms, national inflation stood at 3.61 percent (1.55% in May 2018), induced by the behavior of prices in the divisions of Alcoholic beverages and tobacco (45.80%); Food and non-alcoholic beverages (2.67%); and Various goods and services (8.01%); with a joint contribution of 1.989 percentage points. Meanwhile, the year-on-year inflation was at 5.99 percent, 0.73 percentage points higher to the registered in May 2018, while the subjacent year-on-year inflation was of 6.38 percent (4.06% in May 2018).

The Food and non-alcoholic beverages division registered a 1.12 percent variation, with a contribution of 0.383 percentage points, derived from the increase in the prices of cheese (6.38%), plain bread (5.74%) and curd (5.99%), with a joint contribution of 0.233 percentage points.”

See full report (in Spanish)

Article originally appeared on Today Nicaragua and is republished here with permission.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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