Inflation in Guatemala
Consumer price inflation in Guatemala averaged 3.4% in the ten years to 2024, in line with the Central America and Caribbean regional average of 3.4%. The 2024 average figure was 2.9%. For more information on inflation, visit our dedicated page
Guatemala Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Guatemala from 2024 to 2021.
Source: Macrobond.
Guatemala Inflation Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 3.2 | 4.3 | 6.9 | 6.2 | 2.9 |
Inflation (CPI, ann. var. %, eop) | 4.8 | 3.1 | 9.2 | 4.2 | 1.7 |
Inflation (Core, ann. var. %, eop) | -25.3 | 37.3 | 57.5 | -23.2 | -3.6 |
Inflation rises in May
Latest reading: Inflation ticked up to 1.7% in May from April’s 1.5% reading, staying below the Central Bank’s 3.0–5.0% target range. Greater price pressures in housing and utilities drove the increase, while food and textile inflation eased slightly from last month. Nonetheless, the trend is pointing down. Annual average inflation edged down to 2.1% in May from 2.3% in April. Lastly, consumer prices rose 0.25% over the previous month in May, accelerating from the 0.20% rise recorded in April. May's figure was the highest reading since January.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Guatemalan inflation projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Guatemalan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Guatemalan inflation projections.
Want to get access to the full dataset of Guatemalan inflation forecasts? Send an email to info@focus-economics.com.
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