The briefing detailed it was the largest price decrease in 36 months. The rural area saw a decline by 1.7 percent, that is, 2.3 percent less compared to the previous month, while in the urban area it went down 1.9, which represents 2.9 percent less compared to July.

This translated into a urban cost of 259.97 and 177.31 in the countryside, something that sources attribute, among other issues, to the government policy of opening markets with lower prices.

A BCR statement indicated that the monthly drop in the cost of the basic food basket reflects the effectiveness of economic measures by President Bukele, such as agromarkets and vigilance against hoarding to mitigate inflation in food products.

The bank pointed out that the president’s policies were key to decelerate inflation and reduce the cost of the CBA until August 2024. El Salvador is among the countries with lower inter-annual inflation and greater price drops, favoring consumption, it noted.

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