Central America Economic Forecast

Economic Snapshot for Central America

August 10, 2022

GDP growth will moderate in 2022

Regional economic growth will lose steam this year, due to a tougher base effect and the impact from the Ukraine war. Higher global commodity prices are fueling inflation, eating into consumers’ pockets.  Tighter financial conditions will further weigh on activity. However, lower unemployment rates and solid remittances should offer some support to household consumption.

Inflation to rose in 2022

Regional inflation rose to a record-high   8.6% in June (May: 7.9 %), driven by price increases in the majority of countries in the region. In the Dominican Republic, Jamaica and Trinidad and Tobago, inflation remained stable. This year, inflation is forecast to ease somewhat from its current level by year-end, but should still remain elevated.


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