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.

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.