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Inflation in Honduras rises to 10.86% year-on-year, the highest rate since 2008

Tegucigalpa, Aug 6 Honduran inflation in the last twelve months until July was 10.86%, the highest level for the same month in the last 14 years, since 2008, the Central Bank (BCH) reported this Saturday.

Year-on-year inflation rose from 10.22% in June to 10.86% in July, mainly driven by inflationary pressures generated by the war between Russia and Ukraine, coupled with the “distortion of the global supply chain,” said the BCH in a report

Russia and Ukraine are “important producers of raw materials and fuels” and their conflict has affected the prices of domestic consumer products, he added.

According to BCH online data, which accounts for inflation since 2004, year-on-year inflation in July 2022 is the highest for this month in the last 14 years, since July 2008, when it was 13.8%. .

The institution’s report indicates that the variation of the Consumer Price Index (CPI) in July this year was 0.89%, less than the 1.32% of last June, and the accumulated figure in 2022 reached 7.52 %, higher than the 2.14% of the same period of 2021.

The Central Bank indicated that the change in the CPI in July reflects to some extent the effects of external shocks and was driven by food and non-alcoholic beverages; transportation, accommodation, water, electricity, gas and other fuels.

“Despite the unfavorable international environment that directly affects domestic inflation, its behavior was mitigated by around 0.24 percentage points due to the freezing of electricity prices, as well as superior and regular gasoline, among other measures. economic policy implemented,” he explained.

The BCH specified that all the regions of the country registered a “deceleration of inflation” thanks to lower average prices of perishable foods, attributed to the beginning of the harvest of agricultural products. .

Honduras closed last year with an inflation rate of 5.32%, higher than the range forecast by the economic authorities. EFE


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