Guatemala has the lowest inflation in Central America: 2.27% in June 2026.
And yet, the CFOs we spoke with in the region continue to feel cost pressure that that number doesn't explain.
How is this possible? Because the inflation measured by the Banguat is not the same as the one that affects the operating cost of a company that imports fuels, raw materials or equipment.
The stable exchange rate of the quetzal is a genuine competitive advantage - and it's something that we at ERA Group value as an indicator. It reduces exchange rate uncertainty and allows long-term investment planning with a clarity that few economies in the region offer.
But the problem is another: "imported inflation" - international crude oil prices, maritime freight, raw materials quoted in dollars - operates on a different plane than the CPI. And Banguat already projects that inflation will close the year at 4.05%, almost double the figure for June.
In the medium-sized companies in Guatemala that we have accompanied, the most difficult pressure to see does not come from the main raw materials. It comes from secondary categories that have gone 24 months without a serious review: telecommunications services, logistics contracts, insurance, supplies industrial. Categories that together can represent between 12% and 18% of the total operating cost.
In agro-industry, the dynamics are different, of course. But the trend we have seen at ERA Group is consistent: the greatest savings do not come from large restructurings. They come from reviewing what no one has touched.
Macro stability is no substitute for internal cost auditing. Do you have mapped out what your company is paying in each category - and if that price is still competitive?
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