El Salvador marked inflation at 6.5% in April, slightly below March

San Salvador, May 11 (EFE).- The annual rate of inflation in El Salvador in April of the current year was 6.5%, two tenths less compared to March, according to figures from the Central Reserve Bank (BCR) consulted this Wednesday by Eph.

The data from the financial institution, hosted on its web portal, indicates that the inflation registered in April alone was 0.50%, lower than the 0.81% computed in March, and the accumulated figure for 2022 reached 2.74%.

The General Directorate of Statistics and Censuses (Digestyc), dependent on the Ministry of Economy, has not yet published its figures for the consumer price index for April.

In March, the institution indicated that the increase in prices was «motivated by a higher rate of variation in prices in general, which contributes to maintaining a higher level of inflation» than the same month in 2021, when the accumulated was 1 .68% compared to 2.23% in 2022.

To try to reduce the effects of the global economic crisis, the Legislative Assembly of El Salvador approved a law to freeze fuel prices during April and May.

The Government, which presented this initiative, expects that 1.2 million drivers will benefit, in addition to the supply chain, the transport of food and merchandise, among others.

The economy of this Central American country is dollarized and the behavior of its inflation was similar to that of the United States, which moderated slightly in April, standing at 8.3% year-on-year, two tenths less than in March.

(c) EFE Agency