Guatemala: Inflation soars in January
February 11, 2016
In January, consumer prices rose 0.91% over the previous month, which exceeded the 0.43% rise tallied in December. The increase mainly reflects that a sharp rise in food prices more than offset lower transport prices.
Inflation soared from 3.1% in December to 4.4% in January, which marked the highest reading in over two years. The result kept inflation within the Central Bank’s tolerance margin of plus/minus 1.0 percentage points around its target of 4.0%.
At its 25 November monetary policy meeting, the Bank of Guatemala decided to keep its policy rate at 3.00%. The Bank had lowered the rate at its previous meeting in order to combat falling inflation.