Central America Economic Forecast

Economic Snapshot for Central America

January 18, 2022

GDP growth to ease in 2022

Regional economic growth is forecast to ease this year compared to 2021’s rebound. Nonetheless, tightening labor markets, coupled with robust remittance inflows and normalizing economic conditions, are set to buoy activity. The outlook is clouded by lingering Covid-19-related uncertainty amid low vaccination rates in the region.

Inflation to ease in 2022

Preliminary data showed that inflation inched up from 4.8% in November to 4.9% in December. Stronger price growth in Guatemala, Honduras and Nicaragua offset easing inflation in Costa Rica and El Salvador. This year, inflation should cool somewhat as economic conditions normalize. However, continued currency depreciation poses an upside risk.


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