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Wage Increases Boost Inflation in Paraguay During January

LADB Article ID: 56224
Category/Department: Paraguay
Date: 1995-03-09
By: LADB Staff

According to the Central Bank, monthly inflation climbed to 1.8% in January, about twice the rate of inflation registered in December. A variety of factors contributed to the rise in prices, such as the adoption of a new consumer price index (CPI) at the beginning of the year and a sharp hike in food costs caused by shortages of some basic grains. A 10% increase in the country's minimum wage, however, appears to be the central factor fueling inflation, and officials fear that labor pressures for even higher wage hikes could derail the government's goal of 9% annual inflation for 1995.

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