Paraguay: Inflation in the first quarter of the year was 3.7%

RIO DE JANEIRO, BRAZIL – In the first quarter of the year in Paraguay, inflation stood at 3.7%, compared to 0.6% in the same period of 2021, the issuing bank reported Monday.

According to the Central Bank of Paraguay (BCP) statement, the cost of living in March was 0.8%, well above the 0.1% recorded in the same month last year.

According to the BCP, the accumulated inflation “amounts to 3.7%”. The inflation target rate for this year in the country is 4%. The BCP also confirmed that inter-annual inflation (March 2021-March 2022) stood at 10.1%.

This result was “higher” than the variation of 9.3% registered in February and higher than March last year, when it stood at 2.4%, as detailed in the official bulletin.

The issuer explained that there were increases in “almost all the groupings” of the Consumer Price Index (CPI) in the third month of the year, particularly in food and fuels.

In the food category, the rebound in bakery products stood out due to the increase in wheat flour due to the higher international prices of agricultural raw materials.

There were also increases in milk, cheese, starch, oils, fish, and eggs, highly consumed during the Holy Week season.

Fuels also rose for the third consecutive month, while goods such as household appliances, vehicle parts and accessories, and computer equipment have become more expensive due to the increase in freight costs, the issuer added.

With information from EFE