Throughout 2019, we observed an overall low inflation landscape, as made apparent by its inflation rate being the lowest in 20 years (2.72%). The most important contributor of such a decrease in inflation is the administered inflation, for which we have observed a decrease of 2.85 bps from last year. In addition, the core inflation rate is also 0.05 bps lower than the previous year, signifying a somewhat contracted economic landscape.

Download (PDF, 868KB)