Inflation accelerates in December from November

Latest reading: Consumer prices increased 5.0% in annual terms in December, following a 4.8% rise in the previous month. December's reading was the strongest since April 2023 and hit the ceiling of the Central Bank’s 3.0–5.0% target range, partly due to food price spikes following Hurricane Melissa. Relative to the previous month's data, there were higher price pressures for food and non-alcoholic beverages (+8.2% on a year-on-year basis vs +8.1% in November) and recreation and culture (+2.7% vs +1.5% in November). Finally, the changes in housing and utilities and transport were the same as in the prior month (+2.5% and +3.4%, respectively). Meanwhile, core consumer prices were up 4.9% in annual terms in December, following a 4.7% increase in the previous month. Finally, consumer prices rose 0.84% in December in month-on-month terms, following a 0.71% rise in the previous month.

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