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Guatemala Inflation February 2022

Guatemala: Inflation rises in February

Consumer prices rose 0.42% in February over the previous month, contrasting January’s 0.04% drop. The print reflected a marked uptick in transport prices more than offsetting a notable drop in communication prices.

Inflation came in at 3.0% in February, which was up from January’s 2.9% and marked a return to the Central Bank’s 3.0%–5.0% target range. Annual average inflation fell to 3.8% in February (January: 4.1%).

Analysts at the EIU added:

“We expect steadier global oil prices to keep inflation […] within Banguat’s 3-5% target range in 2022-26. Higher fuel costs in year-on-year terms are likely to raise transport costs marginally. This means that, as core inflation excludes food and energy prices, it will remain stable at the middle of Banguat’s target range. Adverse weather conditions pose risks to this forecast.”

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