Bolivia has achieved the lowest inflation rate among South American countries in the first semester, according to Marcelo Montenegro, the Minister of Economy and Public Finance.
The country’s inflation stands at 0.79 percent, the lowest in the region compared to Ecuador’s 0.9 percent and other countries experiencing higher inflation rates.
Montenegro emphasized that this controlled inflation has helped maintain stable purchasing power for Bolivian households, covering essential expenses like food, transportation, and rent.
Globally, Bolivia is ranked favorably in terms of inflation. As of June 2023, the Ministry of Economy and Public Finance reported a 12-month inflation rate of 2.7 percent.
This rate is higher than that of only six nations, which recorded indicators below 2 percent.
Zenón Mamani, the Vice Minister of Budget and Fiscal Accounting, attributes Bolivia’s success in maintaining low inflation to the containment and stability policies derived from the Productive Social Community Economic Model.
Mamani also highlights that Bolivia’s low inflation rates reflect the country’s economic and price stability, providing a sense of certainty.
In 2022, Bolivia concluded the year with the lowest inflation in South America, recording a Consumer Price Index of 3.12 percent.
Overall, Bolivia’s achievement of the lowest inflation rate in the region during the first semester demonstrates its economic stability and the effectiveness of its policies.
The controlled inflation has contributed to maintaining the purchasing power of Bolivian citizens, ensuring stability in their everyday expenses.