The central bank set an inflation target range of between 2 to 4 percent from 2018 to 2020.
, prices of food and non-alcoholic beverages increased by 2.7 percent in June, slowing from a 3.4 percent rise in May. It was the lowest food inflation since January 2017, as cost fell for corn (-4 percent), rice (-1.7 percent), and bread (-0.6 percent), while prices rose further for other cereals, flours, cereal preparation, bread, pasta and other bakery products (3.6 percent); meat (3.3 percent); fish (3.8 percent); milk, cheese and egg (2.5 percent); oils and fats (2.9 percent); fruits (5 percent); vegetables (9.5 percent); sugar, jam, honey (2.2 percent), and food products, n.e.c (7.3 percent).
In addition, prices eased for housing, water, electricity, gas and other fuels (3 percent vs 3.3 percent in May); transport (1.6 percent vs 3.5 percent); furnishing, household equipment and routine maintenance (3.1 percent vs 3.2 percent); communication (0.3 percent vs 0.4 percent); and alcoholic beverages and tobacco (9.3 percent vs 9.5 percent). Also, cost of education fell further (-4.5 percent vs -3.8 percent). In contrast, inflation was steady for both clothing and footwear (at 2.4 percent), and restaurant and miscellaneous goods and services (at 3.3 percent). Additionally, prices advanced at a faster pace for both health (3.7 percent vs 3.6 percent) and recreation and culture (3.2 percent vs 3.1 percent).
On a monthly basis, consumer prices rose by 0.2 percent in June, slowing from a 0.3 percent gain in May. Prices went up for alcoholic beverages and tobacco (0.7 percent); clothing and footwear (0.2 percent); housing, water, electricity, gas and other fuels (0.4 percent); furnishing, household equipment and routine maintenance (0.2 percent); health (0.3 percent), recreation and culture (0.1 percent), education (1.2 percent), and restaurants & miscellaneous goods and services (0.3 percent). Meanwhile, cost of transport dropped (-1.5 percent) while food and non-alcoholic beverages prices were flat.