Paraguay Inflation Rate Unchanged in October

Reuters — In October 2023, Paraguay’s inflation rate remained steady at 3.5%, the same as the month before. This marked a pause in the rate’s first rise since November 2022.

Changes in Different Sectors

There was a noticeable rise in inflation for transportation (0.7% compared to 0.3% in September), food and restaurants, hotels (3.9% compared to 3.7%), and non-alcoholic beverages (4.4% compared to 4%). On the other hand, the inflation rate slowed down for housing and utilities (3.7% compared to 4%) and recreation and culture (1.9% compared to 2%). Prices for clothing and footwear (4.4% compared to 4.4%) stayed the same. Every month, Paraguay’s consumer prices increased by 0.5% compared to September.

Conclusion

A steady inflation rate can benefit the economy as it indicates stability. However, the economic impact also depends on other factors, such as employment rates and GDP growth.