El Salvador has seen a significant drop in inflation, with the Central Reserve Bank (BCR) reporting a rate of -0.31% for November 2024. This marks a 2.4 percentage point decrease compared to November 2023, positioning the country among the least affected by inflation globally.

The BCR attributes this decline to the government’s proactive measures, particularly those aimed at stabilizing food prices. These efforts include strengthening agricultural markets, opening the Soyapango Central de Abastos, and combating price speculation and product hoarding.

In particular, food inflation has shown a notable reduction of -0.7% as of November, marking the second consecutive monthly decline in this sector. This is the lowest food inflation rate since June 2021, reflecting a 5.4 percentage point drop compared to the same month in 2023. Key products such as güisquiles, avocados, carrots, green chili peppers, watermelons, and potatoes have seen substantial price decreases.

As a result of these efforts, El Salvador is now one of the countries least affected by inflation in Central America. Only Costa Rica, which reported a -0.47% inflation rate, had a lower figure. In contrast, neighboring countries like Honduras, Nicaragua, and Guatemala reported inflation rates ranging from 1.5% to nearly 4%.

The country’s performance is also impressive on the global stage. According to a recent OECD study covering over 50 nations, El Salvador ranks third for the lowest food inflation worldwide, trailing only Switzerland and Costa Rica.

With these measures, the government continues to ensure more affordable access to food and stable markets for Salvadoran families.