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The Consumer Price Index (CPI) for July showed only a slight increase of 0.12% over June, due mostly to a 1.69% drop in transportation costs.
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The decline in the cost of transportation had a downward impact on the cost of food and beverages, and even housing indexes.
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According to the Central Bank the 1.69% decrease in transport was due to the decline in the price of gasoline -- 3.61% for premium and 3.19% for regular.
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The Central Bank says that the index for transferable goods, those that can be imported and exported free of restrictions, registered a decrease of 0.86% with regards to the previous month, due mostly to the lower fuel costs.
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On the other hand, the goods and services that are not transferable, that is those that can only be commercialized within the local economy or are subject to restrictions on the international market, increased by 1.05% due to increases in the prices of fresh poultry, energy, among other items.
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These numbers place the accumulated CPI for the year-July 2008 to July 2009-at 3.31%, much less than the 9.31% registered by the Central Bank for 2008.
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According to the monthly report issued by the Central Bank on the behavior of the Consumer Price Index, the annual inflation rate-July 2008 to July 2009-fell by 1.22%, the lowest in Latin America.

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