LatinNews Daily - 27 June 2022

In brief: Honduras freezes fuel prices for a month

*Honduras’s energy minister, Erick Tejada, has announced that the leftist Partido Libertad y Refundación (Libre) government led by President Xiomara Castro has approved a month-long freeze on increases in gasoline and diesel prices to address the impact on the national economy of high fuel prices, exacerbated by Russia’s war with Ukraine. This comes as Honduras’s monthly inflation in May was 0.88% bringing the year-on-year rate to 9.09%, well beyond the central bank (BCH)’s inflation target range of 4.0% +/- 1 and up from 5.32% at the end of 2021. This follows other measures by the Castro government to address rising fuel prices such as a L10 (US$0.41) per gallon subsidy at the pumps announced in February for the rest of the year, and a subsidy which took effect on 15 March to cover 50% of price increases to diesel.

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