Guatemala: Inflationary Spiral
The economic crisis is causing social disintegration with unpredictable consequences, says columnist Mario Fuentes Destarac in the Guatemala newspaper El Periodico.
Monday, June 16, 2008
He cites figures from the National Statistics Institute of Guatemala saying that inflation between January and May reached 5.82 percent, while prices are 12.24 percent higher than they were in May 2007.
Inflation is a world-wide problem, said Julio Suárez, vice-president of Guatemala's central bank, Banguat. Suárez was replying to a question on the nation's current annual inflation rate of 12.24 percent.
The country ended 2010 with an inflation of 5.39%, an amount within the planned target set between 4% and 6%.
Inflation, which had exceeded the two annual measurement figures since November 2008, has been declining.
Although so far this year prices have risen by 2.79%, this increase is less than that seen in the same period in 2013, of 3.60%.
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