Guatemala: Inflation rises in December
January 7, 2022
Consumer prices increased 0.17% from the previous month in December, after the 0.49% rise recorded in November. December's result marked the weakest reading since May and came on the back of a steep drop in transport, and housing prices.
Inflation came in at 3.1% in December, up from November’s 2.9%. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 4.3% in December (November: 4.4%).
Looking ahead to next year, analysts at the EIU added:
“We expect a moderation in global oil prices to keep inflation within Banguat's 3-5% target range in 2022. Higher fuel costs in year-on-year terms are likely to raise transport costs, which will moderately 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 during 2023-26. Adverse weather conditions pose risks to this forecast.”