Paraguay’s September Inflation: 0.2% Monthly, 2.9% Year-to-Date

Paraguay’s inflation rate for September 2024 stood at 0.2%, lower than the 0.5% recorded in September 2023.

The Central Bank of Paraguay (BCP) released this information in their latest report. This figure brings the cumulative inflation for the year to 2.9%, surpassing the 2.5% observed in the same period last year.

The year-over-year inflation rate settled at 4.1%, a slight decrease from August’s 4.3% but higher than the 3.5% recorded in September 2023.

September’s inflation was marked by price increases across most basket groups, particularly imported durable goods and services.

Food prices showed mixed trends, with some increases offsetting decreases in other areas. Beef prices rose, along with modest increases in bread products, flour, pasta, coffee, yerba mate, fish, condiments, and semi-prepared meals.

Conversely, fresh vegetables, tubers, dairy products, sugar, and poultry saw price reductions.

Durable goods experienced price hikes, including automobiles, mobile phones, sound equipment, computers, home furniture, and household appliances.

Services also saw increases in personal care, restaurant meals, contracted meals, hotel accommodations, and home rentals.

Health services reported higher costs for general practitioner visits, eye doctor consultations, and laboratory tests.

Clothing, footwear, household cleaning items, and personal care products also became more expensive.

The energy sector witnessed slight price increases for domestic liquefied gas and coal. These diverse price movements across various sectors contributed to Paraguay’s overall inflation picture for September 2024.

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