Asuncion, IP Agency.- Price reductions in several components of the food group allowed June to close with an inflation of -0.4%, lower than the variation of -0.3% observed in the same month of the previous year, according to data from the Central Bank of Paraguay (BCP). Inflation is measured by the variation of the Consumer Price Index (CPI).
With this result, the accumulated inflation for the year amounts to 2.8%, above the 2.2% registered in the same period of 2023. The year-on-year inflation stood at 4.3%, a result lower than the rate of 4.4% registered in May, but higher than the rate of 4.2% registered in the same period of the previous year.
The technicians of the central bank explained that the inflation in June is due to a process of normalization of the prices of certain goods that had registered significant increases in recent months, due to supply restrictions and, in recent months, also to climatic shocks.
However, they acknowledged that both services and durable goods in the basket saw price increases, partly offsetting the aforementioned decreases.
The technical report states that, within the food sector, the price drops with the greatest incidence were recorded in beef and fruit and vegetables. Regarding beef, industry representatives mentioned that this result is explained by a lower demand.
On the other hand, and in line with the downward trend in beef prices, substitutes also registered price reductions, such as those noted for poultry, fish, sausages and offal, except for pork, which registered a slight increase.
Regarding fruits and vegetables, the increased supply, both domestic and imported, has allowed prices to stabilize and there have even been some reductions in certain items, although price levels are still high, according to the BCP.
#inflation #June #due #price #reductions #foods #BCP
2024-07-05 11:52:18