Guatemala Inflation October 2021


Guatemala: Inflation falls in October

November 24, 2021

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%.


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Guatemala Inflation Chart

Guatemala Inflation October 2021

Note: Annual and monthly variation of consumer price index in %.
Source: Central Bank of Guatemala

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