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September inflation was 0.29%

Inflación de septiembre fue 0.29%

In its report on the behavior of the Consumer Price Index last September, the Central Bank (BCRD) explains that the inflation year-on-year it fell due to the effectiveness of the subsidies implemented by the Government to fuelsthe pause in electricity rate adjustments, and initiatives to mitigate the impact of the high costs of inputs for agricultural production.

The Ggroups that had the most impact in September inflation were Food and Non-Alcoholic Beverages when varying 0.37%, Miscellaneous Goods and Services 0.84% ​​and Education 2.85%.

“The monthly variation of the consumer price index (CPI) continues to moderate for the second consecutive month, registering 0.29% in September, after 0.21% in August, both variations below the threshold of 0.33% consistent with annualized inflation in the center of the target range of 4% ± 1%”, assures the BCRD.

is moderated
The accumulated inflation of January-September 2022 was 6.01%while year-on-year inflation, measured from September 2021 to September 2022, continues its downward trajectory, reaching 8.63% in September, for a reduction of 100 basis points compared to the peak of 9.64% registered in April of this year.

It highlights that inflation would be converging to the target range of 4% ± 1% in mid-2023.

The targeted monetary aid has contributed to the most vulnerable population being able to better navigate this period of rising prices on a global scale, adds the BCRD’s monthly report.

hikes
The variation of 0.37% in the price index of the Food and Non-Alcoholic Beverages group is mainly explained by price increases in green plantains (2.08%), cassava (2.99%), onions (3.98%), green pigeon peas (4.62%), sour lemons (14.15%), pork (1.05%), pineapple (5.83%), yautia (7.41%), rice (0.27%), purified water (0.54%), liquid milk (0.85% ), sweet potatoes (6.04%) and soft drinks (0.65%). Avocados (-15.91%), fresh chicken (-0.83%), garlic (-6.67%) and oranges (-8.20%) fell.

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