BCP reports that year-on-year inflation for March reached 10.1%
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Loading... - Ainsley Murphy
- 05 Apr 2022
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According to a report from the Central Bank of Paraguay ( BCP ), inflation in the first quarter of the year stood at 3.7%, compared to 0.6% in the same period of 2021. However, the parent bank confirmed that year-on-year inflation (March 2021-March 2022) stood at 10.1%.
The state bank said in a statement that the cost of living in March was 0.8%, well above the 0.1% registered in the same month last year, the result of which points to accumulated inflation that "amounts to 3 .7%".
This result was "higher" than the variation of 9.3% registered in February and higher than that indicator in March of last year, when it stood at 2.4%, detailed the BCP, which in turn explained that in the third month of the year there were increases in "almost all groupings" of the consumer price index (CPI), in particular for food and fuel.
In the food category, the BCP highlighted the rebound in bakery products, as an effect of the rise in wheat flour due to higher international prices of agricultural raw materials, as well as increases in milk, cheese , starch, oils, fish and eggs, highly consumed at Easter time.
Fuels also rose for the third consecutive month, while goods such as household appliances, vehicle parts and accessories, as well as computer equipment, have become more expensive as a result of the increase in freight costs, added the issuer. The target inflation rate for this year in the country is 4.0%.
By the end of March, several citizens reported that the products of the basic family basket continued with an upward trend, while vendors reported a reduction in sales. Read More…
