Inspenet, June 10, 2023
Paraguay surprised with a trend contrary to the situation in the rest of the world’s countries. While in all nations prices increase without limits, in the Latin American nation during the month of May, inflation reached a percentage of 0%, according to the Central Bank of Paraguay (BCP) .
The figure is even lower than that of the same month last year, which stood at 0.2%. So far in 2023, the general price increase in the Latin American country reached 2.5% in total, very different from the 5.4% in the same period last year.
In this way, year-on-year inflation, that is, the one that goes from May 2022 to May 2023 is 5.1%. In addition, the general increase in prices continues to be below the percentage last year, which reached 11.4%.
Paraguay breaks schemes: May without inflation, a milestone in the global economy
However, from the Central Bank they announced that some prices rose during this month. “In Food, cereals and their derivatives showed price increases, highlighting the increases in baked goods, flour, pasta and rice. Dairy products also registered increases, mainly in liquid milk,” the agency said in a report.
“In Food, cereals and their derivatives showed price increases, highlighting the increases in baked goods, flour, pasta and rice. Dairy products also registered increases, mainly in liquid milk.”
On the other hand, there were drops in the prices of fuels and livestock products. “Within Food, there were also price drops, such as those reported for bovine meat, which, according to sector agents, is explained by the higher level of slaughter compared to the previous month and by the reduction in the external reference price of beef cattle. exports that put downward pressure on local cattle prices, reducing the production costs of the meat industry,” states the report.
“Within Food, there were also price drops, such as those reported for bovine meat, which, according to sector agents, is explained by the higher level of slaughter compared to the previous month and by the reduction in the external reference price of beef cattle. exports that put downward pressure on local cattle prices, reducing the production costs of the meat industry”.
The same kind of drop in prices suffered by products derived from petroleum, “such as those registered in common diesel, additive diesel, common naphtha, super naphtha and gas for domestic use.” But they also glimpsed slight increases in hygiene products and household items.
Photos : Shutter Stock
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