Source: Puerto Rico’s Trade and Export Company Retail Sales for the month of July 2022 reached $3.3million. When compared to July 2021’s total retail sales figure, this represents a 0.6% diminution. When compared to June 2022, there is a 0.3% decrease shown in retail sales. This represents the third year-over-year reduction in the retail sector. Said reduction could be the result of the stoppage of...Read More
Source: Department of Labor and Human Resources Consumer Price Index (CPI) in Puerto Rico for the month of August 2022 reached 130.46, which translates to a 6.5% inflation in prices for all items. Said inflation rates were mainly impulsed by changes in the following industries: Transportation with a 10.8% inflation, Food and Beverages with a 9.6% inflation rate, Other Articles and Services (5.4%), Housing (3.0%),...Read More
Puerto Rico’s Planning Board published the Statistical Appendix for 2021’s Fiscal Year yesterday, September 29, 2022. Said report showed that, contrary to the projections made by the Planning Board itself, Gross National Product grew by 1 % for 2021. This growth is greatly due to), the increase in total personal consumption expenditures by 19.0%, the increase in spending on machinery and equipment of 8.7% (especially...Read More
In an attempt to increase investment incentives and with it, stimulate the economic growth of the World’s 6th biggest economy, the United Kingdom’s Prime Minister, Liz Truss, signed off on a £45bn tax-cutting package. Measures such as this one are considered to be controversial and bold actions, especially given the current precarious state of the economic conjuncture. However, when questioned by her decisions, the Prime...Read More
Puerto Rico’s Statistical Appendix of the Economic Report show’s a year over increment of 4.4% in its Gross Product, reaching $71,580.8 millions of dollars in 2021. Said increment rate was larger than 2019-2020’s year over year change, which pointed out a diminution in Puerto Rico’s Gross Product.Read More
