Friday, 23 September 2022 00:44

Producer price index as of august 2022 was 127.83

Written by Evelyn Alas

The Índice General de Precios al Productor (IPP) for august 2022 was 127.83 and the monthly variation was 0.30%, compared to July of this year. The price increase was higher for information and telecommunications activities; artistic, entertainment, and recreational activities; and manufacturing industry.

The costs of raw materials and inputs for the manufacturing industry continue to be affected by the increase in freight rates for the import of raw materials and inputs, due to the ongoing conflict between Ukraine and Russia, which affects the economy of many countries.

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It is recommended that salvadorans promote a culture of savings in their homes, because the prices of various products may increase in the coming months.

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Because the FED raised interest rates to 75 percentage points and this generates a strong increase in interest on loans or credit.

It is possible that food prices will also increase due to the fact that many people buy fruits and vegetables by means of loans to maintain their sales.

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Even though the Central Government maintains the 11 economic measures and subsidies, in energy, fuels, propane gas, food and agricultural inputs, it is possible that there will be unexpected increases in these sectors.

It is advisable for those who have a part of their home a suitable place to harvest to do so in order to avoid certain expenses that could affect their economy. Also, people will have to spend less on personal or recreational consumption.