RIO DE JANEIRO, BRAZIL – The issuing bank revealed that inflation in Paraguay was 1.4 % in February, compared to 0.1 % recorded in the same month of 2021.
Thus, this year’s cumulative inflation stood at 2.8 %, well above the 0.6 % it reached in the same period of 2021.
According to the Central Bank of Paraguay (BCP), year-on-year inflation thus amounted to 9.3%.
The issuer attributed the behavior of the Consumer Price Index (CPI) to increases in food, fuel, and education-related services, according to Agencia de Información Paraguaya.
The increase in durable goods in the basket, such as vehicles and household appliances, and other services, including rents, paid television, or health and personal care expenses, also played a role in inflation.
Concerning food, the BCP pointed out the rebound in the price of bakery products due to the higher cost of flour due to international wheat prices.
In addition, it pointed to the impact of international oil prices on the prices of crude oil derivatives, which increased diesel, gasoline, and liquefied petroleum gas.
In education, the increases were in tuition fees and goods and services related to the resumption of classes. This year, Paraguay seeks to fully resume face-to-face education after the pandemic.
With information from EFE
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