Bolivia maintains one of the lowest inflation rates in the world in 2022

Bolivia reported inflation of 3 percent until November this year, which is one of the lowest rates in the world, assured this Tuesday the Bolivian Minister of Economy and Public Finance, Marcelo Montenegro.

“Unlike other countries, Bolivia maintained price stability thanks to the different policies subject to and applied within the framework of the Social Community Productive Economic Model, such as fuel subsidies and some strategic foodstuffs,” he said at a press conference.

Montenegro attributed inflation control to the emerging policies of the Bolivian economic model to maintain price stability in different products for the population, despite the complex world context.

According to the state-owned National Institute of Statistics (INE), Bolivia maintained between January and November 2022 a controlled inflation of 3 percent and predicted that this macroeconomic indicator would close the year within the projection of the fiscal agreement.

Although inflation was high in November, this indicator remains below 3.3 percent, the percentage set by the Government and the Central Bank of Bolivia (BCB) at the beginning of this year.

According to a report by the Ministry of Economy, inflation in Argentina reached 85.3 percent in November; 13.3 percent in Chile; 12.5 percent in Colombia; 8.5 percent in Uruguay; 8.45 percent in Peru; 8.3 percent in Paraguay; and 5.9 percent in Brazil.

In addition, inflation exceeded 10 percent in several European countries, such as Germany, Belgium, Italy, Spain, and France.