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Paraguay ends 2016 with inflation at 3.9 percent -cenbank
December 29, 2016 / 7:55 PM / a year ago

Paraguay ends 2016 with inflation at 3.9 percent -cenbank

ASUNCION, Dec 29 (Reuters) - Paraguay ended 2016 with an annual inflation rate of 3.9 percent, driven by increases in food prices, particularly beef, the central bank said on Thursday.

That was larger than the 3.1 percent inflation figure from 2015 but within the central bank’s target range of between 2.5 and 6.5 percent. Consumer prices rose 0.6 percent in December.

Beef prices rose 14.1 percent over the course of the year due to lower slaughter rates.

The central bank is targeting a similar inflation range in 2017, and said it expects the economy to grow 3.7 percent next year. The economy grew 4.0 percent in 2016, according to official projections. (Reporting by Mariel Cristaldo; Writing by Luc Cohen; Editing by Leslie Adler)

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