Bolivia set to post 2024 inflation close to 10%

Bolivia, which is going through one of its severest economic crises in recent years, is on course to post 2024 inflation of close to 10%. 

Inflation in January to November was 8.82% and the 12-month rate was 9.51%.

The rate is one of the highest in 16 years and up significantly on recent years.

Year	Annual inflation
2018	1.51 %
2019	1.47 %
2020	0.67 %
2021	0.90 %
2022	3.12 %
2023	2.12 %
2024 (estimated)	9-10%

Source: INE

Statistics office INE said the November figure of 1.45% is explained by an increase in food and beverages prices (2.59%).

“If it weren’t for the impact of the blockades, inflation would be 1 to 2 percentage points below what was recorded,” INE head Humberto Arandia told a press conference. According to the official, there were up to 34 days of blockades in various parts of the country in November and October by groups supporting former president Evo Morales.

The protests had a strong impact on transportation, both of fuel and food.

According to the INE, Bolivia's GDP will grow 2% in 2024 and there will be no recession scenario.