Inflation last January, measured by the variation in the Consumer Price Index (CPI), of the Central Bank of Paraguay (BCP), was 0.9%, lower than the 1.2% variation observed in the same month. from the previous year. With this result, interannual inflation stood at 3.4%, a result below the rate of 3.7% registered in December 2023 and also lower than the rate of 7.8% verified in the same period of the year. above, according to the official report.
By ABC Color
February 4, 2024 – 01:00
The BCP report highlights that among the main aspects of inflation it is mainly explained by increases in the prices of food, services and, to a lesser extent, durable goods. These increases were offset by the price decreases recorded in fuels.
Beef cut and its substitutes
In food, the price increases in the different cuts of beef stand out, as well as those registered in their main substitutes. With respect to beef, representatives of the sector highlighted that the increases were due to better export conditions, a fact that coincides with more competitive external price levels, a fact that has reduced the supply available for the domestic market. With respect to beef substitutes, it is mentioned that the increase in the price of pork, according to statements by agents in the sector, responds to a lower supply in the national market as a consequence of a low level of stocks due to the high demand they experienced during the end-of-year holidays, added to a strong increase in external demand in 2023, mainly from the Taiwanese and Uruguayan markets.
In food, the price increases of fruits and vegetables also stand out, goods that had a high impact on the CPI result for the month due to lower domestic supply. Regarding cereals and their derivatives, price increases were also recorded in baked goods, pasta and rice.
With respect to rice, sector experts pointed out that the increases achieved respond to the greater external demand for which Brazil and Argentina are the main destinations. In addition, they highlighted that the rice is still in the harvest process and that the numbers, in terms of yield, have not been favorable, translating this into a lower supply that also impacted the price of the product. Price increases were also observed in sugar and non-alcoholic and alcoholic beverages.
Among the services in the basket, price increases in bars and restaurants, international bus and bus tickets, home maintenance and repair, repair of home equipment, telephone and internet, driving registration and vehicle licensing stand out. Increases were also observed in veterinary services, inland tourist packages, clothing services, personal care, language courses, insurance and writing services. Within goods and services related to health, increases in prices of pharmaceutical products and laboratory services were observed. In relation to durable goods, the main increases occurred in household appliances, automobiles, air conditioning equipment and computer equipment. Finally, and in return, fuels recorded price reductions in their different components, such as common gasoline, super gasoline, common diesel oil and additive diesel oil.
0,9%
Inflation in January was 0.9%, lower than the 1.2% observed in the same month of the previous year, while the year-on-year rate was 3.4%.
Increases
The main aspects of inflation occurred due to increases in the prices of food, services and, to a lesser extent, durable goods.
Offer
The increases in beef were due to better export conditions, which reduced the supply available for the domestic market.
2024-02-04 04:00:00
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