August 11, 2016
In July, consumer prices increased 0.84% over the previous month, which was down from the 1.36% rise tallied in June. July’s print was driven by a strong increase in prices of the non-food category, led by a steep increase in the cost for education.
Inflation dropped from 18.4% in June to 16.7% in July, marking a 16-month low. As a result, inflation moved closer to the Central Bank’s target of 8.0%. Moreover, annual average inflation in July inched down from 18.2% in June to 18.1%.
Author: Andrea Vetrugno, Economist