Inflation rose 0.06 points in El Salvador between May and June 2024.
El Salvador was the only Central American country where inflation rose in June, according to data from the Executive Secretariat of the Central American Monetary Council (Secmca).
The latest monthly report of regional inflation, published by the Secmca and retakes state statistics from each country, indicates that between May and June year-on-year inflation in El Salvador has gone from1.42 %1.48 %, an increase of 0.06 points.
With the exception of El Salvador, inflation in the rest of the region fell.
Nicaragua went from year-on-year inflation of 5.45 per cent in May to a rate of 4.82 per cent for June, with a decrease of 0.63 points; Panama, for its part, reported a reduction of 0.37 points, from 1.26 per cent to 0.89 per cent.
In Guatemala, inflation fell from 3.76 per cent to 3.62 per cent, while in Honduras it fell 0.07 points and stood at 4.87 per cent for June.
Although inflation levels fall in the region, this does not mean that prices are going to fall as well, but that the increase in the cost of services and products is lower.
Costa Rica is the only country in the region that remains in deflation, that is, the prices of products and services are downwards, positioning itself at -0.03 %. The Central American neighbor reported a major deflation in May, when it was placed at -0.33 %.
Sectors
Sectors where the highest inflation levels accumulate vary by country. The Secmca confirms that even Costa Rica has some items where prices remain up.
The monthly report shows that Costa Rica maintains the highest inflation in the communications sector, with 6 per cent, while in El Salvador and Guatemala the peak is positioned on hotel and restaurant service, with 5.53 per cent and 6.30 per cent, respectively.
In Panama, the highest inflation in June fell in accommodation, water, electricity, gas and other fuels, with 2.53 per cent.
In June 2024, Nicaragua maintained the highest level of inflation in the food and non-alcoholic beverage sector, which means that in this area the price of products increases by a wider margin compared to the rest.
Inflation in food and non-alcoholic beverages continues to affect all countries in the region, with the exception of Costa Rica, where these products continue to be deflation.
This article has been translated after first appearing in Diario El Mundo