Year-on-year, transport prices rose 1.31 percent (from -0.02 percent in June); food and non-alcoholic beverages went up 3.66 percent (from +4.15 percent); housing and utilities grew 2.11 percent (+2.0 percent); clothing and footwear increased 3.15 percent (+2.99 percent); restaurants and hotels added 4.88 percent (+4.8 percent) and furnishings increased 2.11 percent (+2.99 percent). In contrast, communication cost fell 13 percent.
Core inflation which excludes prices of energy, fruits and vegetables and livestock was 2.97 percent, the same as in the previous month.
On a monthly basis, prices rose 0.26 percent, following a 0.11 percent growth in June and core consumer prices edged up 0.17 percent (from +0.25 percent in June)
The inflation rate has been running below the central bank’s 3 percent target since mid-2015 due to lower oil prices. Yet, the central bank already raised interest rates twice this year aiming to contain inflationary pressures that may arise from peso depreciation.