The 12-month inflation expectation of economic analysts and the financial system decreased from 3.83% in June to 3.57% in July 2023, the lowest rate since September 2021, according to the
Central Reserve Bank (BCR).
Similarly, the inflation expectation for 2023 was reduced to a range between 4.3% and 5.3%, while it has remained between 3.0% and 4.0% for 2024, according to the July Macroeconomic Expectations Survey.
"The expectations of analysts and financial institutions are in the inflation target range for 2025," the issuing entity underlined.
In this sense, the BCR indicated that inter-annual inflation decreased from 6.46% in June to 5.88% in July, thus continuing the downward trend observed since the beginning of the current year. The monthly inflation rate was 0.39%.
Meanwhile, it pointed out that the monthly inflation rate (without food and energy) was 0.29%. Thus, the inter-annual rate decreased from 4.35% in June to 3.89% in July.
"In July, price increases with the greatest positive contribution to inflation were recorded in the spheres: onions (34.9%), meals outside the home (0.6%), and chicken meat (3.1%)," it noted.
On the contrary, the price decreases with the greatest incidence in inflation were fresh sea fish (14.2%), potatoes (5.3%), and eggs (1.8%).
Growth
According to the BCR weekly report, last July economic agents expected GDP growth of between 1.2% and 2.0% for 2023, and between 2.3% and 2.9% for 2024.
"The surveyed groups forecast an economic expansion between 2.6% and 3.0% for 2025," according to the report.
(END) NDP/RGP/MVB
Publicado: 5/8/2023