Paraguay’s Central Bank recently released a report revealing that the country’s inflation rate for September was a mere 0.2%. This marks a modest increase in the cost of living for Paraguayans, with a cumulative inflation rate of 2.9% so far this year. However, there is a slight setback from the previous year’s inflation rate of 2.5% during the same period.
Here are some key points from the report:
- Interannual inflation rate is at 4.1%, slightly lower than August’s 4.3% but higher compared to the previous year’s rate of 3.5%.
- Last month’s Consumer Price Index (CPI) saw an increase in the prices of essential items, but the impact on consumers was mitigated by price contractions in various agricultural products.
- Price increases were observed in beef, bakery products, flour, pasta, coffee, yerba mate, fish, condiments, oils, and non-alcoholic beverages.
- On the other hand, certain items like fresh vegetables, dairy products, sugar, and poultry meat experienced decreases, balancing out the overall inflation figures.
- Beef prices rose due to a drop in supply caused by reduced slaughtering activities.
- Other products and services that saw price hikes include automobiles, mobile phones, computers, furniture, household appliances, services, hospitality, clothing, and insurance.
- Additionally, there were slight increases in the cost of liquefied gas for domestic use and coal.
The Central Bank’s report highlights the intricate balance of price fluctuations in Paraguay’s economy, where certain sectors experience growth while others face declines. It provides valuable insights into the factors influencing the country’s inflation rates and underscores the importance of monitoring and managing these fluctuations for economic stability and consumer well-being. As Paraguay continues to navigate its economic landscape, staying informed about inflation trends remains crucial for both policymakers and citizens alike.
Leave feedback about this