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Saturday, 30 December 2023 05:21

El Salvador went from 7.32% inflation in 2022 to 2.11% in november 2023

Written by Denis Muñoz
El Salvador went from 7.32% inflation in 2022 to 2.11% in november 2023 Courtesy

Price inflation in El Salvador remains with an annual margin of 2.11%, which is 5.22 percentage points less than the one registered in 2022 that stood at 7.32%. This implies a lower price compared to last year.

In january, El Salvador started with an inflation rate of 7.03%, in each month of this year has been presenting a downward behavior, closing november with 2.11%, this places El Salvador as the fourth economy with the lowest inflation in Latin America.

Cumulative inflation to november 2023 was 2.0%, which is 5.21 percentage points lower than that recorded in the same month of the previous year, when it was 7.2%. This downward behavior is explained by a lower rate of variation in prices, which contributes to maintaining a relatively lower inflation level than that recorded in november 2022.

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This drop in inflation is also attributed to the fact that the authorities of the Federal Reserve of the United States defined that the reference interest rate of the federal funds will be maintained between 5.25% and 5.5%. These measures are intended to curb inflation in the United States.

 

Translated by: A.M

Published in Economy
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