Friday, 03 June 2022 00:44

El Salvador shows 2.7% year-on-year growth in Central America

Written by Evelyn Alas

The Consejo de Ministros de Hacienda o Finanzas de Centroamérica, Panamá y República Dominicana (COSEFIN), presented a report on economic activity, inflation and economic cycles in the region.

According to the report El Salvador shows a Monthly Index of Economic Activity (IMAE), of 2.7% and details that in accumulated terms the economy would have increased 1.5% and in average 10.3%.

The activities that contributed most to this development are professional, scientific, technical, administrative, support and other services; real estate activities, financial and insurance activities.

In april 2022, year-on-year inflation was 6.55% (2.79% in april 2021); cumulative inflation stood at 2.74% (2.33% in april 2021). Finally, average inflation was 5.18% (0.29% in april 2021).

The groups that most contributed to this inflation result were: food and non-alcoholic beverages; recreation and culture; furniture and household items; transportation, while Guatemala presented a growth of 7.9%, Honduras 6.5% and Costa Rica 11.1%.

The IMAE measures the evolution of economic activity, approximating the monthly behavior of the aggregate value of each of the COSEFIN member countries included in the calculation of the Gross Domestic Product (GDP).