Guatemala: Inflation remains steady in May
Consumer prices increased 0.16% from the previous month in May, picking up from the 0.11% increase logged in April. The print reflected a notable uptick in transportation costs, while housing prices also rose steeply.
Inflation was stable at April’s 5.2% in May. May’s figure represented the weakest inflation rate since December 2020. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.8% in May (April: 4.5%).
Joan Domene, senior economist at Oxford Economics, added:
“Inflation is expected to ease in H2 as the base effect and supply shocks caused by the pandemic fade. However, rising energy prices could prevent a quicker convergence with the central bank’s 4% (+/-1%) target range.”