LatinNews Daily - 03 August 2022

In brief: Inflation slows in Paraguay

*Paraguay’s central bank (BCP) has published the consumer price index for July, showing a monthly inflation rate of 0.7%, down from 1.2% in July 2021. With this result, accumulated inflation stood at 6.7% for the first half of 2022, a large increase from the 2.7% recorded in the same period of 2021. BCP stated that annual inflation stood at 11.1% at the end of July, lower than the annual rate of 11.5% registered in June of this year but greater than the rate of 5.2% registered in July 2021. BCP said inflation in July was driven by rising prices of fuel and petroleum products, services and, to a lesser extent, foodstuffs, health costs and some durable goods. According to BCP, transport had one of the greatest impacts on the monthly inflation result according to the BCP report, driven mainly by rising fuel prices.

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