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Inflation in Puerto Rico hits 5.1% in March 2022

Intelligent Economics > Analysis > Inflation in Puerto Rico hits 5.1% in March 2022

In Puerto Rico, the Consumer Price Index (CPI) stood at 124.581 in March 2022, an increase of 5.1% compared to March 2021. This is the largest year over year increase seen in the CPI since May 2008, when it increased by 4.8%. This is the 21st consecutive month with an increase relative to the previous month.

The CPI rose 0.8% between February and March, the highest since January 2018.

              Source: BLS, Department of Labor

The rise is due to the increase in the price of fuel, electricity, and food (mainly oils, meat, poultry, fish, eggs and cereals). March is the first month that collects the results of the Russian invasion of Ukraine. Inflation was at 4.7% in February.

Prices began to rise in March last year, mainly driven by energy prices.

In 2021 inflation closed at 2.4%, the highest since 2011 (2.9%), after having been negative (-0.5%) in 2020, the first time that annual inflation was in negative territory since 2016.

Inflation by Category

CategoryMarch 2021 vs March 2022
All Items5.1%
Food and Beverages7.4%
Food at Home9.1%
Meats, poultry, fish, and eggs13.1%
Fats, oils, and dressings23.2%
Food away from home6.5%
Lodging Away from Home23.4%
Household services7.3%
Motor Fuel30.8%
Medical Care1.6%
Education and Communication1.7%
Other Goods and Services2.9%

            Source: Department of Labor

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