The National Institute of Statistics Presented the Consumer Price Index in August 2023

The Consumer Price Index for August was 172.13, with a monthly inflation rate of 0.63 % and an inflationary rhythm of 4.47.

by Pamela Contreras

Guatemala City, by Kevin Castillo -AGN.- The National Statistics Institute -INE- presented the Consumer Price Index -CPI- for August 2023. It was at 172.13 with a monthly inflation rate of 0.63%. In addition, the inflationary rhythm is 4.47 %, with an accumulated inflation of 2.86%.

Hugo García, acting manager of INE, Werner Salguero, director of indexes and ongoing statistics, and Marco Mejía, administrative manager, attended the activity, which took place at the INE’s Board Meeting Room.

The technical aspects state that inflation represents the generalized and sustainable increase in the prices of a representative basket of goods and services, represented by 441 items.

In addition, these results were based on 8,664 sources of information, from which more than 46,000 prices were collected throughout the country. The coverage of sources and prices is present in eight country regions.

2022-2023 Comparison

August’s monthly inflation of 0.63% compared to August 2022, when it was 0.68%, has reported a decrease of 0.05%. In addition, the inflationary rhythm in August of this year was 4.47 %, compared to 8.87 % last year, which decreased by 4.40 %.

Of the 279 basic expenses, 28 showed no fluctuation in the past month. Meanwhile, 75 had a negative take, and 176 had a positive variation.

The divisions with the highest incidence in the CPI variations are food and non-alcoholic beverages, with 0.42%, transportation with 0.13%, and restaurants and hotels with 0.09%. In addition, the main positive incidences are tomato 0.19%, onion 0.16 %, and premium gasoline 0.13 %.

Likewise, among the main negative incidences are air transportation services -0.07%- potatoes -0.15%, and all-inclusive travel services outside the country -0.05%. According to INE for August 2023, the purchasing value of the quetzal stood at 0.58 cents.

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