Inflation in the United States fell to 8.5% in July largely because of falling gas and energy prices, suggesting that prices will continue to decline. The figure is down from the 9.1% reached in June, the highest figure since 1981. Inflation between June and July remained stable (0.0). The largest increases compared to last year occurred in energy (44.9%), food (10.9%), and housing rental (5.7%)....Read More
Non–farm payroll in Puerto Rico for June 2022 reached 912,900. This reflects an increase of 4.77% or 41,600 when compared to numbers reported in June 2021. However, compared to the previous month of May 2022, we see a decrease of 3,700 or 0.33%. Employment (thousands)March 2020June 2021June 2022Percentage ChangeNon-Farm Payroll887.5871.3912.94.8%Construction27.728.531.08.8%Manufacturing7677.083.48.3%Retail Sales124.9127.9132.43.5%Professional and Business Services124.4128.8141.29.6%Finance45.144.145.83.9%Education33.229.432.08.8%Health Services85.984.786.52.1%Leisure and Hospitality81.475.186.715.5%Government203.5193.9188.1-29.9%Source: Puerto Rico Labor Department When comparing June 2022’s...Read More
Puerto Rico’s Treasury Department reported an income of $1,220,043 in net revenues for its general fund in May 2022. Compared to May 2021’s reported net income, this shows a $194,522 or a 13.75% decrease in general fund net revenues. However, compared to the central government’s fiscal plan projections, said revenues were $348,778 or 40% higher than expected. As for the general fund’s net revenues reported...Read More
The Consumer Price Index (IPC) [1] in Puerto Rico for June 2022 reached 130.17. When comparing year-over-year changes, June 2022 saw a substantial increase of 7.2% in its index. The principal groups with the largest increases in their index, when compared to June 2021, were Transportation (15.6%), Food and Beverages (9.2%), Other Articles and Services (3.5%), and Housing (3.1%). May 2022’s IPC shows an increase...Read More
Bankruptcy filings totaled 318 for the month of July, a 9.7% increase (28 filings) compared to July 2021. When analyzed by Chapter: Chapter 7 filings totaled 100, a -16.0% decrease, Chapter 11 and 12 totaled 5 filings, a -20% decrease, while Chapter 13 totaled 213 filings, a 29% increase compared to July 2021. Year-to-date filings total 2,253, a -3.6% decrease compared to the same period...Read More
