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LatinNews Daily - 05 July 2021

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In brief: Paraguay’s inflation slows down

*Paraguay’s central bank (BCP) has released the latest consumer price index (IPC) figures, which show that the monthly inflation rate stood at 0.4% in June compared to 0.6% in May, bringing accumulated inflation in the first quarter of the year to 1.5%. These figures show a slowdown in inflation in June after the unexpected spike in May, which was a significant increase from the -0.1% variation observed in April. BCP data shows that inflation in June was primarily driven by rising prices in beef offal (up 6.6%), oils (4.6%), and fuels (4.5%), with additional increases in the prices of durable goods. Meanwhile, data shows a significant fall in prices in some foods particularly vegetables (-6.4%) and fruits (-2.9%). A BCP report attributed the rise in the IPC in June to higher international oil prices as well as to the continued depreciation of the Guaraní against the US dollar.