Economic Snapshot for Central America
September 15, 2021
GDP forecast to expand in 2021
The regional economy is set to return to growth this year as the impact of the pandemic fades amid the ongoing vaccine rollout and the lifting of lockdown measures. That said, a recent rise in cases in some countries could prolong the health crisis, clouding the outlook. Moreover, weakened labor markets and income levels will weigh on household consumption.
Inflation to trend higher in 2021
Regional inflation inched down to 4.0% in July from 4.1% in June. Stronger price pressures in El Salvador, Nicaragua, Panama and Puerto Rico were somewhat offset by easing inflation in Costa Rica, the Dominican Republic and Honduras. Inflation is forecast to trend higher this year than in 2020 amid higher oil prices, depreciating currencies and firming economic activity.
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Central America Economic News
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Costa Rica: Economic activity grows at quickest pace in over 14 years in June
September 10, 2021
The economy gained further momentum in June, with economic activity rising 8.1% in annual terms, following May's 8.0% increase and marking the strongest growth since April 2007.
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Costa Rica: Inflation picks up in August
September 9, 2021
Consumer prices increased 0.28% in August over the previous month, contrasting the 0.21% fall seen in July.
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Dominican Republic: Inflation increases in August
September 9, 2021
Consumer prices rose 0.80% in August over the previous month, accelerating from the 0.54% increase logged in July.
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Guatemala: Economic activity growth loses steam in July on a less favorable base effect
September 9, 2021
Economic activity increased 10.6% in July over the same month a year prior, cooling somewhat from the 13.9% increase recorded in June.
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Guatemala: Remittances inflows reach record-high value in August
September 9, 2021
Remittances totaled a record-high of USD 1,388.6 million in August, rising 32.2% year-on-year (July: +25.5% yoy).
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