Guatemala City, by Lincy Rodríguez -AGN- The National Institute of Statistics -INE- presented a report on the country’s economic landscape from January to October 2023. At the beginning of the year, the Consumer Price Index (CPI) recorded an inflation rate of 9.69%. By October of the same year, the inflation index had reduced to 4.98%, significantly improving in just ten months. This is an accomplishment of the economic policy of President Giammattei’s administration.
The start of the year presented economic challenges, but the governmental response was swift and effective. The country experienced a reduction in the inflation rate through a combination of fiscal and monetary policies.
This 4.71% decrease in the inflation rate is not just a number but a tangible reflection of the positive impact on the national economy. Therefore, citizens are experiencing a reduction in the cost of living, from the prices of basic goods to essential services.
On the other hand, businesses find a more favorable environment for investment and growth, with more stable and predictable operating costs.
Year-on-Year Variation
Analyzing the year-on-year variation of the CPI at the national level, the encouraging trend persists. Also, comparing the data from October 2022 to October 2023, the 4.98% CPI variation reveals a substantial improvement in price stability over the past year. This comprehensive analysis demonstrates that the implemented policies are achieving long-term results.
Similarly, this economic achievement highlights the effectiveness of the measures implemented so far and presents optimistic prospects for the future.
President Giammattei’s administration is committed to the continuity of economic policies that foster stability and sustainable development in the country.
Authorities expect these measures will continue to strengthen economic resilience and contribute to the population’s overall well-being.
Finally, the significant reduction in inflation during President Giammattei’s tenure reflects a solid commitment to the nation’s economic well-being. It also lays the groundwork for a more prosperous and equitable economic future.
