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Guatemala Inflation December 2023

Guatemala: Inflation falls to over one-year low in December

Inflation eased to 4.2% in December, falling slightly from November’s 4.3%. December’s result represented the lowest inflation rate since March 2022. The figure was largely driven by softer price pressures for housing and utilities, while price growth for food and alcoholic beverages was stable year on year.

In addition, the trend pointed down, with annual average inflation coming in at 6.2% in December (November: 6.6%).

Finally, consumer prices increased 0.11% over the previous month in December, contrasting the 0.66% drop logged in November.

On the outlook for inflation, analysts at the EIU commented:

“We expect headline inflation to remain in Banguat’s 3-5% target range in 2024, but there is a substantial risk that weather events will push inflation above the upper bound. Although tight domestic monetary conditions and a further easing of global supply bottlenecks will support disinflation, fuel prices will remain above pre-pandemic levels.”

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