San Salvador. Image by According to data from the Central Reserve Bank (BCR), the 2024 inflation rate in El Salvador closed at 0.29%, the lowest inflation number in the last four years.
The 2024 rate figure also reflects a 0.94 percentage point decrease (-76.42%) from the December 2023 rate.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change 2023-2024 |
|
|---|---|---|---|---|---|---|---|
| January | 0.25 | -0.08 | 0.31 | 6.48 | 7.03 | 1.20 | -5.83 (-82.93%) |
| February | 0.35 | -0.39 | 1.06 | 6.67 | 6.82 | 0.80 | -6.02 (-88.27%) |
| March | 0.68 | -0.53 | 1.77 | 6.69 | 6.06 | 0.77 | -5.29 (-87.29%) |
| April | 0.80 | -1.05 | 2.79 | 6.55 | 5.44 | 1.14 | -4.30 (-79.04%) |
| May | 0.80 | -0.95 | 2.59 | 7.48 | 4.41 | 1.42 | -2.99 (-67.80%) |
| June | 0.53 | -0.23 | 2.59 | 7.76 | 3.78 | 1.48 | -2.30 (-60.85%) |
| July | 0.13 | -0.06 | 3.43 | 7.42 | 3.34 | 1.78 | -1.56 (-46.71%) |
| August | -0.49 | -0.30 | 4.30 | 7.66 | 3.09 | 1.17 | -1.92 (-62.14%) |
| September | -0.68 | -0.39 | 4.97 | 7.49 | 3.02 | 0.58 | –2.44 (-80.79%) |
| October | -0.87 | -0.21 | 5.49 | 7.47 | 2.66 | -0.07 | -2.73 (-102.63%) |
| November | -0.58 | -0.18 | 6.20 | 7.32 | 2.11 | -0.31 | -2.42 (-114.69%) |
| December | 0.00 | -0.09 | 6.11 | 7.32 | 1.23 | 0.29 | -0.94 (-76.42%) |
SEE ALSO: El Salvador’s Basic Food Basket Cost
In 2024, the highest inflation rate belonged to Restaurants and Hotels, standing at 3.86%; it was followed by the health sector with a rate of 2.30%.
| Dec 2023 |
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General Index | 1.23 | 1.20 | 0.80 | 0.77 | 1.14 | 1.42 | 1.48 | 1.78 | 1.17 | 0.58 | -0.07 | -0.31 | 0.29 |
| Food and non-alcoholic beverages | 3.98 | 3.60 | 2.15 | 2.21 | 2.34 | 2.71 | 3.63 | 4.53 | 3.12 | 1.21 | -0.34 | -0.70 | -0.47 |
| Alcoholic beverages, tobacco | 4.36 | 2.62 | 2.66 | 3.10 | 2.26 | 1.16 | 0.62 | 0.64 | 0.85 | 1.70 | 1.84 | 1.42 | 1.21 |
| Clothing and footwear | 0.65 | 0.48 | 1.08 | 1.37 | 0.83 | 1.03 | 1.18 | 1.00 | 1.15 | 0.75 | 0.71 | 0.30 | 0.09 |
| Accommodation, water, electricity, gas, and other fuels |
-0.26 | 0.36 | 0.02 | 0.29 | 0.60 | 0.44 | 0.80 | 1.13 | 1.03 | 1.15 | 1.68 | 1.78 | 2.07 |
| Furniture, household items, and ordinary household maintenance |
-1.74 | -2.31 | -1.41 | -1.65 | -1.42 | -1.27 | -1.66 | -1.42 | -1.39 | -1.69 | -1.96 | -2.26 | -2.18 |
| Health | 2.98 | 2.96 | 2.62 | 2.48 | 2.52 | 2.69 | 2.53 | 2.21 | 2.09 | 2.38 | 2.60 | 2.41 | 2.30 |
| Transportation | -4.27 | -3.72 | -3.08 | -3.79 | -1.04 | -0.05 | -2.19 | -2.87 | -4.34 | -4.29 | -5.34 | -5.88 | -1.58 |
| Communications | -1.52 | -1.53 | -0.89 | -0.90 | -0.90 | -0.83 | -0.70 | -1.23 | -0.90 | -0.94 | -0.69 | -0.42 | -0.39 |
| Recreation and culture | -2.12 | -2.07 | -2.98 | -3.33 | -3.03 | -2.68 | -2.40 | -2.34 | -2.20 | -1.95 | -2.47 | -2.50 | -2.51 |
| Education | 0.00 | 0.00 | 0.00 | 0.00 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 |
| Restaurants and hotels | 5.82 | 5.89 | 5.70 | 5.99 | 5.54 | 5.75 | 5.53 | 6.10 | 5.83 | 5.35 | 4.62 | 4.20 | 3.86 |
| Miscellaneous goods and services | 0.98 | 0.73 | 0.64 | 0.44 | 0.45 | 0.55 | 0.43 | 0.58 | 0.79 | 1.14 | 0.79 | 0.99 | 1.31 |
One of the important inflation rates impacting all Salvadorans is the food and non-alcoholic beverages rate, currently at -0.47%, one of the lowest this year. An increase or decrease in this rate affects the country’s essential food basket cost.
The inflation rate of Salvadoran food and non-alcoholic beverages has decreased by 4.45 or -111.81% since the end of December 2023. This decrease is good news for Salvadorans.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change 2023-2024 |
|
|---|---|---|---|---|---|---|---|
| January | 0.82 | 1.28 | 0.12 | 8.95 | 12.22 | 3.60 | -8.62 (-70.54%) |
| February | 0.93 | 0.91 | 0.73 | 9.45 | 12.61 | 2.15 | -10.46 (-82.95%) |
| March | 1.22 | 1.07 | 1.15 | 9.81 | 11.62 | 2.21 | -9.41 (-80.98%) |
| April | 1.70 | 2.08 | -0.04 | 10.89 | 10.36 | 2.34 | -8.02 (-77.41%) |
| May | 2.34 | 2.26 | -0.87 | 13.28 | 8.35 | 2.71 | -5.64 (-67.54%) |
| June | 2.81 | 2.88 | -1.02 | 14.37 | 6.93 | 3.63 | -3.30 (-47.62%) |
| July | 1.61 | 3.30 | -0.07 | 14.19 | 6.40 | 4.53 | -1.87 (-29.22%) |
| August | -0.02 | 2.10 | 2.11 | 14.50 | 6.11 | 3.12 | -2.99 (-48.94%) |
| September | -0.16 | 1.43 | 3.94 | 13.55 | 5.98 | 1.21 | -4.77 (-79.77) |
| October | 0.71 | 0.67 | 6.07 | 12.82 | 5.91 | -0.34 | -6.25 (-105.75%) |
| November | 0.76 | 0.62 | 7.42 | 12.06 | 4.70 | -0.70 | -5.40 (-114.89%) |
| December | 1.20 | 0.37 | 7.96 | 12.24 | 3.98 | -0.47 | -4.45 (-111.81%) |
The inflation rate problem is a global issue and is not isolated to El Salvador. Due in large part to the measures implemented by the Nayib Bukele administration, the Salvadoran inflation rate continues to be one of the lowest in Latin America.
