Official data from the National Statistics Institute (INE) recorded 3.76 last month and 3.36 the previous month, while warning about five food products with an increase: potatoes, güisquil, tomato, water and tortillas.
The Consumer Price Index for May showed, however, a downward impact on gasoline, onions, passenger transportation by air, diesel, and fresh lemons.
The analysis also serves to measure the Basic Urban Food Basket, which includes 13 food groups, whose result in the fourth month of the year revealed that it costs four thousand 294.75 quetzales (550 dollars), 63.25 quetzales (almost 10 dollars) more against January.
That figure – according to INE calculations – must be used by a family of five to satisfy their minimum food needs in the urban area.
When breaking down the food groups, the monthly report described that one of those that increased the most is the category of food and drinks outside the home.
At the end of May, Guatemala’s monetary authorities forecast a slight inflationary increase for the second half of 2024, in the food and transportation divisions, especially due to events in the Middle East.
These events usually affect the international price of a barrel of oil and the refined products that we import and consume, explained the vice president of the National Bank (Banguat), José Alfredo Blanco.
The variable may exceed four percent year-on-year, but it will remain under the control of the country’s financial institution, the official stated.
Blanco stressed that the effects of the Covid-19 pandemic have already passed, whose inflation rate reached 9.92 percent, and they plan to finish well this year.
Inflation in Guatemala fell from 4.18 percent in December 2023 to 3.82 last January, while it continued to decline in February and March, with records of 3.3 and 3.24, respectively.
The country closed the previous annual period with a growth in gross domestic product of 3.5 percent and for 2024 an increase is estimated in the range of 2.5 to 4.5 with a central or core value of 3.5 percent Whats Next.
rgh/znc
