Inflation falls to 0.58% in September 2024 in El Salvador

This is the second drop in inflation that has occurred after six consecutive months of increases.

The inter-annual inflation rate in El Salvador moderated to 0.58% last September, from 1.17% registered in August, according to figures from the Central Reserve Bank (BCR) published this Monday.

The BCR database indicates that the annual variation rate of the consumer price index, which is the indicator used to measure inflation, was 0.67 percentage points lower than the August index.

The food section, despite marking a higher index than the general one, registered a marked drop, going from 3.12% in August to 1.21% today, only behind restaurants and hotels, which went from 5.83% to 5.35%.

This is the second drop in inflation after six consecutive months of increases.

At the close of 2023, a survey by the Instituto Universitario de Opinión Pública (Iudop) indicated that the economic situation has displaced crime as the main concern of Salvadorans.

The study, which evaluates the general situation of the country in 2023, indicates that 32.8% of the population considers that the “main problem facing El Salvador” is the economy, while unemployment reaches 17.3% and subsequent studies have endorsed this concern.

Source: Forbes Centroamerica