Guatemala: Inflation picks up to highest level in eight months
February 7, 2013
In January, consumer prices rose 0.49% over the previous month, which followed the 0.54% increase seen in December. According to the National Statistics Institute, the monthly print mainly reflected a strong increase in prices for food, housing as well as for restaurants, whereas prices for alcoholic beverages fell sharply.
As a result of the monthly reading, annual headline inflation jumped from 3.5% in December to 3.9% in January. The print marks the highest rate in eight months but still remains within the Central Bank's inflation target range of 4.0% plus/minus 1.0% for this year. Meanwhile, the core inflation index added 0.41% over the previous month (December: +0.18% month-on-month), driving the annual core inflation to 3.5% (December: +3.4%).