The annual inflation rate in Paraguay increased to 2.8 percent in December 2019 from 1.9 percent in the previous month. It was the highest inflation since August. Prices rose faster for goods (3.1 percent vs 1.6 percent in November), namely food (3.6 percent vs 0.5 percent) and services (2.6 percent vs 2.4 percent). Meantime, inflation was steady for rents (at 2.6 percent). On a monthly basis, consumer prices went up 0.6 percent, following a 0.2 percent gain in November. Inflation Rate in Paraguay averaged 5.29 percent from 2005 until 2019, reaching an all time high of 13.40 percent in June of 2008 and a record low of 0.90 percent in May of 2013.
Inflation Rate in Paraguay is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Paraguay to stand at 3.80 in 12 months time. In the long-term, the Paraguay Inflation Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.