The general level of prices dropped for the third consecutive month, according to the calculation of the Consumer Price Index (CPI), used by the National Institute of Statistics and Censuses (INEC) to estimate inflation.
Last May, the variation in prices was -0.11%. This variation was mainly influenced by decreases in the cost of tomatoes, potatoes, onions, tour packages, Internet services, and university education.
On the side of increases, there were some in the prices of gasoline, bus fare, liquid milk, fruit juices, and canned tuna, among others.
When analyzing the percentage changes in the prices of the twelve groups that make up the index, seven groups showed decreases in their prices.
A bearish behavior in the fifth month of the year was not registered since May 2015. The cumulative figure of inflation to last May is 0.40%, one tenth of a percentage point below the level of January. Year-on-year inflation is 2.04%, still within the target range proposed by the Central Bank for 2018 (2% -4%).