In Nicaragua, the Building Materials Price Index recorded an increase of almost 10% during October compared to the same month in 2017.
The Central Bank of Nicaragua (BCN) reported that the Building Materials Price Index (CPI) registered a 9.9 percent year-on-year growth compared to October of the previous year (8.8% registered in September 2018 and 3.7% in October 2017).
Price per gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.55, Honduras $3.48, El Salvador $2.97, Guatemala $2.92 and Panama $2.77.
From the Ministry of Economy of El Salvador report:
During the last two months, the oil and its derivatives production has reached higher figures than expected, this is because the two largest producers, the United States and Saudi Arabia, have recorded figures never seen before.
Price per gallon of regular gas: Costa Rica $4.11, Nicaragua $3.83, Honduras $3.66, Guatemala $3.17, El Salvador $3.16 and Panama $2.98.
From the report of the Ministry of Economy of El Salvador:
The latest production and export reports from the United States and Saudi Arabia have provided international price relief for oil and its products. The North American country, through the International Energy Agency (IEA), reported that in the last week it reached a maximum production of 11.6 million barrels a day (100 thousand barrels more than two weeks ago) due to unconventional production (shale). While the Arab country, the largest producer of the Organization of the Petroleum Exporting Countries (OPEC), reported an increase of approximately 127 thousand barrels more to 10.8 million barrels per day, which has led to an excess in supply over current demand for fuels.
During the tenth month of the year, the CPI registered a monthly variation of 0.51%, mainly because of the prices of Food and non-alcoholic beverages.
According to the report of the Central Bank of Nicaragua, the Consumer Price Index (CPI) showed an increase of 0.51 percent (0.55% in October 2017), mainly caused by the behavior of prices in some goods and services of the Food and non-alcoholic beverages divisions (0.67%); Transportation (1.56%) and Housing, water, electricity, gas and other fuels (0.82%); which together contributed 0.429 percentage points to the variation observed. On the other hand, the Leisure and culture division showed a decrease of 0.29 percent (-0.011pp).
Price per gallon of regular gas: Costa Rica $4.11, Honduras $3.84, Nicaragua $3.79, El Salvador $3.37, Panama $3.32 and Guatemala $3.29.
From the report of the Ministry of Economy of El Salvador:
The production increase of the three major exporters of petroleum and its products at the end of October 2018 has contributed to the fall in international prices; the United States have produced approximately 11.5 million barrels per day, 500 thousand barrels more than its average production; Russia 11.3 million barrels per day, expecting to reach 11.4 million barrels per day in the next weeks; while Saudi Arabia produces an average of 10.7 million barrels per day, with expectations of increasing to 11 million barrels per day. With this increase in production, the International Energy Agency (IEA) has expressed that the oil markets seem " suitably supplied for now," and with a lower expectation in the demand for petroleum and products for 2019.
In September, the FAO food price index decreased 7% compared to the same month in 2017, because of lower prices for meat, dairy products, cereals, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 163.5 points in October 2018, down 1.4 points (0.9 percent) from September and some 13 points (7.4 percent) below its level in the corresponding period last year.
In accordance with the behavior of the last months, in Nicaragua the Construction Materials Price Index registered an increase of almost 9% in September with respect to the same month in 2017.
The Central Bank of Nicaragua (BCN) reported that the Construction Materials Price Index (CPI) experienced a year-on-year growth of 8.8 percent compared to September of the previous year (9.6% August 2018 and 2.4% September 2017).
After reaching its highest level in June this year with 5.6%, the price index reported a variation of 5.1% in September with respect to the same month in 2017.
The Consumer Price Index (CPI) increased 0.50 percent (0.32% in September 2017), mainly explained by the behavior of the prices in some goods and services of the divisions of Recreation and culture (6.79%); Housing, water, electricity, gas and other fuel (1.73%) and Transportation (1.15%); which together contributed 0.496 percentage points to the observed variation.
Price per gallon of standard gasoline: Costa Rica $4.21, Nicaragua $4.07, Honduras $3.87, El Salvador $3.56, Guatemala $3.52 and Panama $3.21.
From the report of the Ministry of Economy of El Salvador:
According to data from the IEA, the United States is in full season of hurricanes and the passing of Hurricane Michael through the Gulf of Mexico, on the production of crude oil and derivatives, generated losses in the two days of closure of the storm that represented about 9% of U.S. production of 11.1 million barrels per day. Making the reference prices for gasoline and distillates will present mixed fluctuations.
Regular gasoline gallon price: Costa Rica $4.28, Nicaragua $3.99, Honduras $3.83, El Salvador $3.57, Guatemala $3.38, and Panama $3.21.
From the Ministry of Economy of El Salvador report:
As a result of the last meeting held by the Organization of Petroleum Exporting Countries (OPEC) in Algeria last September 23rd together with countries not belonging to the organization led by Russia, it was agreed not to increase the production of crude oil despite the deficit generated by the third largest producer of the organization (Iran), due to the financial sanctions imposed by the United States; This has directly impacted the international prices in a notorious tendency to increase in the last weeks, since there will be less product (crude oil and all its products) to offer before a growing demand, and that the United States by itself cannot cover, unless OPEC increases its production, a subject that will be taken up until the meeting on December 3rd in Vienna, Austria.
In September, the FAO food price index decreased 7% compared to the same month in 2017, explained by the decline in prices of meat, dairy products, cereals and vegetable oils.
of the monthly report FAO:
» The FAO Food Price Index* (FFPI) averaged 165.4 points in September 2018, down 2.3 points (1.4 Percent) from August and some 13 points (7.4 percent) below its level in the corresponding period last year.
In Nicaragua, the Construction Materials Price Index registered a variation of almost 10% in August with respect to the same month in 2017.
The Central Bank of Nicaragua details in its figures that of the five chapters that make up the IPMC aggregate, the highest growth was observed in the chapter on metals and derivatives (18.2%), followed by wood and ceilings (9.8%), electricity and lighting (5.6%), cement and derivatives (5.3%) and sanitary ware and flooring (4.7%).
Price of a gallon of regular gasoline: Costa Rica $4.31, Nicaragua $3.90, Honduras $3.81, El Salvador $3.51, Guatemala $3.40 and Panama $3.23.
From a report by the Ministry of Economy of El Salvador:
According to the latest report provided by the International Energy Agency (AIE) gasoline stocks went down by approximately 1.7 million barrels per week, but it was not so for distillates and diesel which had a slight increase in their reserves, of approximately 0.8 million barrels per week.
Price of a gallon of regular gasoline: Costa Rica $4.3, Nicaragua $4, Honduras $3.8, El Salvador $3.51, Guatemala $3.47 and Panama, $3.25.
From a report by the Ministry of Economy of El Salvador:
The meteorological report for the Gulf of Mexico, offered at the beginning of the week of September 3, caused increases in the prices of petroleum products, including distillates such as diesel, due to the imminent passage of tropical storm "Gordon". This climatic event threatened to become a hurricane, which put on alert all oil rig areas, approximately 54 platforms (Alabama, Mississippi and Louisiana) which were evacuated before the arrival of the storm, in addition floods of up to 1.5 meters were expected to occur due to the rising tide, in some refining areas.
After reaching the highest level this year with 5.6% in June, the price index reported a variation of 5.2% in August compared to the same month in 2017.
The Consumer Price Index (CPI) showed a decrease of 0.24% (-0.03% in August 2017), explained mainly by the behavior of prices in some goods and services in the divisions of Food and non-alcoholic beverages (- 0.75%), Recreation and culture (-3.88%) and Communications (-0.06%), which together contributed -0.4 percentage points to the observed variation, reported the Central Bank of Nicaragua (BCN).