TEGUCIGALPA, HONDURAS. The president of the Central Bank of Honduras (BCH), Rebeca Santos, reported that at least 9 billion dollars are captured by the state entity in remittances.
The official indicated that the financial institution received at least 18 billion dollars in 2022.
Santos explained that in the first month of the year they have noticed situations of positive currency flow, product of payment for exports of coffee, African palm and bananas.
It may interest you – BCH conducts a survey to find out income and consumption habits
Similarly, among the reasons are remittances from compatriots residing in other nations.
In addition, the president of the BCH assured that remittances are cyclical. Because of this, some months see more foreign exchange earnings.
Santos stated that in the first half of the year the flow dynamics is greater in terms of receiving remittances from abroad.
Year-on-year inflation stands at 8.93% in January
He BCH reported that the interannual inflation rate in Honduras stood at the 8.93% in Januarybelow that of last December (9.80%).
The financial institution’s report detailed that this is mainly due to the lower fuel prices of vehicular use and the electricity tariff.
In turn, the banking authorities indicated that, of the total YoY inflationhe 48.7% corresponds to imported, “the smallest contribution” in relation to last December. This is due to a reduction in the average prices of fuels that would have been registered since last November.
Inflation
On the other hand, the BCH indicated that imported inflation in 2023 “would continue to be decisive in the evolution of domestic prices” in Honduras. That obeys thepersistence of supply shocks and external costs. Especially, those associated with the increase in food prices and the increase in the cost of raw materials,” they added.
They also pointed out that “due to the difficulties in the global production and supply chains, as well as the possible exacerbation of the energy crisis in Europe.”