Guatemala: Inflation increases in February
Consumer prices increased 0.32% over the previous month in February, picking up from the 0.15% increase recorded in January. The print reflected marked rises in housing and transport prices.
Inflation rose to 6.0% in February, from January’s 5.2%. February’s figure marked the highest inflation rate since December 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.9% in February (January: 3.5%).
Commenting on the inflation outlook, Joan Domene, senior economist at Oxford Economics, stated: “Temporary shortages of food and some tradable goods added pressure to consumer prices during the lockdowns. However, lower energy prices and ample economic slack should contain inflation well within the central bank’s 4% +/-1% target range.”