We're not the only ones with inflation, says Guatemalan bank chief

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.

Tuesday, June 10, 2008

Suárez said the the rate of inflation was slowing down. Prices, he said, rose by 1.4 percent in May compared with 1.43 percent in April. Meanwhile, inflation was worse in April in Costa Rica (1.9 percent) and Honduras (1.8 percent) than in Guatemala.

More on this topic

Guatemala: Inflation Exceeds Targets

June 2011

The Consumer Price Index has risen 6.39% in the last 12 months, above the inflation target of between 4% and 6% set by the Banguat.

The effects of international inflation are being felt in Guatemala, where prices have been showing a a clear upward trend for a few months.

Guatemala mulls its economic situation

July 2008

The president of the Guatemala's Central Bank, María Antonieta de Bonilla, is worried about the current economic situation in hre country and predicts the coming of stricter credit conditions.

Del Bonilla made her comments in an interview with the newspaper Prensa Libre, following an announcement by the National Statistics Institute that reported an annual inflation rate of 13.56 percent in June, far above this year's goal of 5.5 percent plus or minus 1.5 percent.

Costa Rican inflation puts pressure on interest rates

June 2008

Costa Rica's inflation in May was 1.91 percentage points higher than in April, raising fears over the future for interest rates. Inflation for the 12 months to the end of May came to 11.9 percent.

The central bank has set a target of achieving positive interest rates in real terms, but the longer it takes to reach that objective, the higher will inflation become, analysts say.

Migrants' remittances to Guatemala surge by 11.33 percent

May 2008

Remittances by emigrants to their families in Guatemala rose by 11.33 percent year-on-year to US$1.36 billion in the first four months of the year, according to the nation's central bank, Banguat.

In April alone, remittances totaled US$385 million, Banguat said.
According to official estimates, 1.6 million Guatemalans live in the United States, some 60 percent of them without immigration documents.

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