In a promising economic turn, the cost of El Salvador’s basic food basket (CBA) saw a marked decrease in September, offering financial relief for Salvadorans. Data from the Central Reserve Bank (BCR) indicated this as the most significant decline in urban areas in over three years and a continued downturn in rural areas, marking the ninth consecutive month of contraction.
The BCR attributed this progress to initiatives by President Nayib Bukele, including the establishment of agromarkets and anti-hoarding measures aimed at controlling food inflation. “The monthly reduction in the cost of the Basic Food Basket demonstrates the effectiveness of measures to alleviate food inflation,” stated the BCR in an official release.
In September, urban food basket costs dropped by 3.2%, 5.1 percentage points lower than in August 2024, and 11.5 points below levels from September 2023. According to the National Office of Statistics and Censuses (ONEC), urban families spent approximately $249.25 monthly, with a daily per-person cost of around $2.11. This represents a savings of $10.65 from August, when the monthly cost stood at $264.91.
Rural households also benefited, with the CBA cost in these areas reflecting an annual decrease of 8.4%, or 18.9 points lower than in September last year, marking a sustained trend of reduced expenses for rural families in 2024.