GUATEMALA CITY, Jan 7 (Reuters) - Inflation in Guatemala was 9.4 percent in 2008, the highest in eight years, the government said on Wednesday, despite falling prices for gasoline and other commodities in recent months.
Soaring international prices for oil, commodities and other raw products caused inflation surge last year, said Luis Arroyo, from the National Institute of Statistics.
Guatemala's annual inflation in 2007 was 8.75 percent.
'In one year we've had two scenarios: one of significant price rises in products like gasoline, diesel and grains and in the last two months of the year, there have been price cuts of up to 30 percent in the same products,' said Arroyo.
(Reporting by Sarah Grainger) Keywords: GUATEMALA ECONOMY/ (noel.randewich@thomsonreuters.com; + 52 55 5282 7153; Reuters Messaging: noel.randewich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Soaring international prices for oil, commodities and other raw products caused inflation surge last year, said Luis Arroyo, from the National Institute of Statistics.
Guatemala's annual inflation in 2007 was 8.75 percent.
'In one year we've had two scenarios: one of significant price rises in products like gasoline, diesel and grains and in the last two months of the year, there have been price cuts of up to 30 percent in the same products,' said Arroyo.
(Reporting by Sarah Grainger) Keywords: GUATEMALA ECONOMY/ (noel.randewich@thomsonreuters.com; + 52 55 5282 7153; Reuters Messaging: noel.randewich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.