Thursday, 28 October 2021 13:02

UFG's 3rd report indicated that inflation rose to 5.0% as of september 2021

Written by Evelyn Alas

Universidad Francisco Gavidia (UFG), presented its "3rd Country Situation Report" in which it briefly explains that inflation in the country rose to 5.0% as of september 2021.

The report explains that inflation remained in a negative state that is to say declining prices between july 2019 and december 2020 (-01%), and rose to 5.0% as of september 2021.

In addition, the recovery and growth has been given by the work done by entrepreneurs and the productive private sector, which would be recovering what was lost in 2020 due to higher production as an effect of higher domestic and external prices.

Most of this increase is explained by the increase in fuel prices and the generation of greater internal demand due to the increase in the minimum wage.

Likewise, the price of gas has experienced increases due to the increase in tariffs in the international market. Now the gas drum increased from US$9.37 without subsidy in july 2020, reaching US$15.25, a 62.8% increase in october 2021.

Tax revenues recovered after the fall in 2020 and rose to US$3,933 million between december 2020 and august 2021.

He added that the recovery of private jobs in 2020 were 65,131 private jobs and in july 2021 is expected to recover 9,264 positions, compared to 2019 reached the maximum of private jobs.

Exports increased 37.2% in the first months of 2021 and totaled US$4,928 million, the UFG points out that if this number is maintained or increased it could achieve a historical record in the country.

Imports increased 47.3% in the first 9 months to september 2021 and reached US$10,818 million due to the increased economic activity.