Asuncion, IP Agency.- According to the report from the Central Bank of Paraguay, inflation in August was -0.2%, bringing the accumulated inflation for the year to 2.6%, lower than the 2.9% recorded at the end of last month.
This decrease is due to specific decreases in the food group, mainly in the volatile items of the basket, according to the report from the central bank.
Regarding food products, a large part of the negative monthly result for the month is due to the decreases observed in fruit and vegetable products. Other foods that registered lower prices were beef and its substitutes such as pork, poultry, and sausages.
On the other hand, other foods in the basket have seen price increases, especially in baked goods, flour, pasta, rice, butter, dairy products, coffee, non-alcoholic beverages, sweets and desserts, among others.
Increases were also noted in some segments of health expenditure. In this regard, price increases in pharmaceutical products and laboratory services stand out.
In services, which increased by 0.3% in August, there were notable price increases in vehicle maintenance services, domestic service, tourist packages, food and drinks served in bars and restaurants, hotel accommodation services, personal care services, financial services, and some managed services such as the consumption of running water, driver’s license, passport, among others.
Finally, fuel prices registered a slight increase, such as those for regular gasoline and super gasoline.
The target inflation rate for this year is 4.0%, according to the rate established by the central bank.
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2024-09-06 15:28:10
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Paraguay’s Inflation Rate Drops to 2.6% in August
Asunción, IP Agency. – The Central Bank of Paraguay has reported a decline in inflation for August, with a rate of -0.2%, bringing the accumulated inflation for the year to 2.6%. This marks a decrease from the 2.9% recorded at the end of last month.
Food Group Leads the Decline
The decrease in inflation is largely attributed to specific decreases in the food group, mainly in the volatile items of the basket. Fresh produce, such as fruits and vegetables, have seen a notable decline in prices. Beef and its substitutes, including pork, poultry, and sausages, have also experienced a price drop.
Other Food Items See Price Increases
However, other food products have seen price increases, particularly in baked goods, flour, pasta, rice, butter, dairy products, coffee, non-alcoholic beverages, sweets, and desserts. These increases have helped to offset the overall decline in the food group.
Health Expenditure Sees Price Hikes
Some segments of health expenditure have also seen price increases. Pharmaceuticals and laboratory services have been particularly affected, with notable price hikes observed in these areas.
Services See Modest Increase
The services sector has experienced a moderate increase of 0.3% in August. This is mainly due to price increases in certain segments, such as transportation and communication.
Economic Indicators
The decline in inflation is a positive sign for the Paraguayan economy, as it can help to stimulate economic growth and improve purchasing power. The Central Bank’s report provides valuable insights into the country’s economic performance and helps to inform policymakers and business leaders.
Key Takeaways
Paraguay’s inflation rate drops to 2.6% in August
Food group leads the decline, with decreases in fresh produce and meat prices
Health expenditure and services see price increases
The decline in inflation is a positive sign for the Paraguayan economy
Optimized Keywords
Paraguay inflation rate
Central Bank of Paraguay
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Inflation rate
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