The Central Reserve Bank (BCR) reported deflation for the second consecutive month in November, attributing the trend to the strengthening of agro markets and the launch of a new wholesale distribution center in Soyapango.
The Consumer Price Index (CPI) posted an annual rate of -0.31% in November, following a -0.07% rate in October. Through social media, the BCR highlighted that the decline in inflation is a result of measures such as bolstering agro markets, opening the central hub, and combating price speculation and product hoarding.
These efforts follow a price crisis earlier this year caused by crop damage during severe storms in June. The government expanded the Ministry of Agriculture and Livestock (MAG)’s agro market program, initially designed to support direct farmer-to-consumer sales. However, agricultural organizations claim that imported products are also being sold through this initiative.
In October, President Nayib Bukele announced the opening of a wholesale center in Soyapango, with government data indicating that 75% of the distributed products are locally grown.