In the sixth month of the year, the FAO food price index increased by 1% compared to the same month in 2018, explained by the increase in the prices of cereals, meat and sugar.
In May, the CPI rose 6%, reinforcing the upward trend that has been reported since February.
In February, the indicator stood at 3.3%, in March it was 5.1% and in April, 5.8%. The May figure reinforces the upward trend that is likely to continue for the rest of the year.
In the fifth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of cereals and vegetable oils.
From the FAO monthly report:
The FAO Food Price Index* (FFPI) continued to rise for the fifth consecutive month, averaging 172.4 points in May 2019, up 1.2 percent (2.1 points) from April but still 1.9 percent below its level in the corresponding month last year. While prices for sugar and oils fell, the other sub-indices registered increases in May, led again by strong month-on-month firming of prices of dairy products followed by cereals.
Because of the impact of the crisis, for this year it is estimated that the contraction in economic activity will be between 7% and 11%, and the open unemployment rate could increase from 5.5% to 8.5%.
Nicaraguan Foundation for Economic and Social Development (Funides), contains estimates of the behavior of the country's economy for this year, within the framework of the political and economic crisis it is going through.
The costs of wood and roofs, and metals and derivatives, explained during the third month of the year the 14% year-on-year increase in the prices of construction materials in Nicaragua.
The results show that the Index of Prices of Construction Materials (IPMC) registered a 13.8% year-on-year growth with respect to March of the previous year (9.6% in February 2019 and 8.6% in March 2018), informed the Central Bank of Nicaragua.
In the fourth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of meat, cereals and vegetable oils.
From FAO's monthly report:
The FAO Food Price Index* (FFPI) rose in April 2019 to around 170 points, 1.5 percent (2.5 points) higher than in March and marking its highest value since June 2018. At this level, the FFPI would still remain 2.3 percent below its level in the corresponding month last year. Except for the sub-index for cereals, all the other sub-indices firmed in April, led by dairy and meat, and to a lesser extent vegetable oils and sugar.
After the country's Consumer Price Index rose to 3.3% in February 2019, it went up to 5.1% in March and 5.8% in April.
Year-on-year inflation was 5.77%, 0.95% higher than in April 2018, while core year-on-year inflation was 6.30%, reported the Central Bank of Nicaragua (BCN).
During the third month of the year, the CPI registered a 1.82% monthly variation, mainly because of the prices of alcoholic beverages and tobacco.
In cumulative terms, domestic inflation was 1.84%, year-on-year inflation was 5.09%, 0.25% higher than in March 2018, while base year-on-year inflation was 5.25% (4.20% in March 2018), reported the Central Bank of Nicaragua (BCN).
After the country's Consumer Price Index rose to 3.3% in February 2019, it increased to 5.1% in March.
The March Consumer Price Index (CPI) showed a monthly increase of 1.82% (0.14% in March 2018), mainly because of the rise in prices of some goods and services of the divisions: Alcoholic beverages and tobacco (31.37%), Miscellaneous goods and services (3.76%), and Food and non-alcoholic beverages (1.62%), which together contributed 1.176 percentage points to the observed variation, reported the Central Bank of Nicaragua (BCN).
In the third month of the year, the FAO food price index fell 4% from March 2018, explained by the decline in the prices of meat, cereals, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) held steady in March 2019, averaging 167 points and still hovering around its highest value since August 2018.
The costs of wood and roofs, and metals and derivatives, explained during the second month of the year the 10% year-on-year increase in the prices of construction materials in Nicaragua.
The statistics of the Price Index of Construction Materials (IPMC) corresponding to February 2019, indicate that the IPMC registered a 9.6% year-on-year growth regarding the same month of the previous year, variation greater than the 8.4% reported in February 2018, informed the Central Bank of Nicaragua (BCN).
Education and transportation services were the main spending divisions that during the second month of the year caused the variation of the Consumer Price Index in the country.
The Consumer Price Index (CPI) for February showed a 0.27 percent monthly increase (0.22% in February 2018), mainly because of the behavior of prices in some goods and services of the divisions of Education (3.86%), Transportation (1.35%), Furniture and household goods and their conservation (0.67%), which together contributed 0.388 percentage points to the observed variation, explains a report from the Central Bank of Nicaragua (BCN).
In the second month of the year, the FAO food price index fell 2% from February 2018, explained by the decline in the prices of meat, vegetable oils and sugar.
From FAO's monthly report:
The FAO Food Price Index* (FFPI) averaged 167.5 points in February 2019, up 2.7 points (1.7 percent) from January.
Because of the behavior of the costs of timber and roofs, in Nicaragua the prices of construction materials registered a 13% increase in January with respect to the same period in 2018.
In the five chapters comprising the aggregate of the Index of Prices of Construction Materials (IPMC) increases were registered in January, with the greatest variation recorded in the chapter of timber and roofs (21.9%), followed by metals and derivatives (17.0%), electricity and lighting (7.2%), cement and derivatives (5.6%), and sanitary and flooring (5.1%), reported the Central Bank of Nicaragua (BCN).
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