Inflation in Guatemala
Guatemala - Inflation
Inflation falls in October
Consumer prices increased 0.36% over the previous month in October, picking up from the 0.21% rise seen in September. October's figure was the highest reading since November 2020. The print was driven by a marked rise in transportation costs.
Inflation came in at 3.0% in October, which was down from September’s 3.7%. October's result marked the lowest inflation rate since July 2020. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 4.6% in October (September: 4.8%).
Looking ahead to next year, analysts at the EIU added:
“We expect a sharp rise in global oil prices to push inflation above the upper bound of Banguat's 3.0%-5.0% target range in 2022. Higher fuel costs are likely to raise transport costs, which will drive up prices of goods and services further. This means that, although core inflation excludes food and energy prices, it will remain elevated. However, inflation will stay within the target range throughout 2023-26. Adverse weather conditions pose risks to this forecast.”
FocusEconomics panelists see inflation ending 2022 at 4.0%. For 2022, our panelists expect inflation to end the year at 3.9%.
Guatemala - Inflation Data
|Inflation Rate (CPI, annual variation in %)||2.4||4.5||4.4||3.8||3.7|
5 years of economic forecasts for more than 30 economic indicators.
Guatemala Inflation Chart
Source: National Statistical Institute and FocusEconomics calculations.
|Exchange Rate||7.71||0.22 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 24, 2021
Consumer prices increased 0.36% over the previous month in October, picking up from the 0.21% rise seen in September.
November 18, 2021
Economic activity increased 6.3% year-on-year in September (August: +8.2% yoy).
November 8, 2021
Remittances totaled a record-high of USD 1,418.5 million in October, rising 25.2% year-on-year (September: +23.6% yoy).
October 8, 2021
Consumer prices increased 0.21% from the previous month in September, unchanged from August's reading.
October 8, 2021
The economy expanded 15.1% year-on-year in the second quarter, up markedly from the first quarter’s 4.5% increase.