According to information from the Nicaraguan Central Bank, in July alone the rate of inflation increased 0.87%.
The economist Alejandro Aráuz commented that, "although the first seven months of 2010 have seen a rapid rise in inflation, the coming months tend to be quieter with inflation in October in particular being almost zero," reports La Prensa.
Aráuz added that inflation in Nicaragua is similar to that in the rest of the Central American region.
Economists calculate that the general rise in prices was between 14.8 and 15.3% at the end of 2008.
According to laprensa.com.ni, "As of November, according to the most recent data from the BCN, inflation was at 14.04% due mainly to the increase in the price of food and beverages (tomatoes, peppers, potatoes, cabbage, cheese and eggs); home furnishing and maintenance (domestic salary, furniture, detergent and clothing), and other good and services (cigarettes, bath soap, toilet paper)."
Nicaragua could finish the year with an inflation rate of more than 20 percent, according to estimates based on figures provided by the Central Bank of Nicaragua. That's more than double official projections.
The reason for higher prices is the high and rising cost of food and fuel, say independent economists.
Accumulated inflation from January to October was 1.8%, already exceeding the annual target given to the IMF.
The country seems unlikely to meet this year´s 1.5% inflation goal committed to the International Monetary Fund (IMF).
"The high prices of some basic consumer goods such as beans, corn, vegetables and oil products in contrast with the slight inflation increase the government recorded in the first ten months of 2010," states the article in Elsalvador.com.