Weekly Report - 04 August 2022 (WR-22-31)

PARAGUAY | Inflation slows. 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. 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 monthly inflation, driven mainly by rising fuel prices.

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