Prices of goods regulated by the government (administered goods) and volatile goods which tend to experience normalization contribute to keeping inflation at levels according to previous predictions, specifically at the level of 0,31% (mtm) or 3,32% (yoy). The slightly downward movement in core inflation provides an indication that the consumption growth trend tends to slow down, after previously increasing from 3,12% in May, 3,25% in June, and 3,18% in July. Until now, we are still maintaining our inflation outlook in the range of 3,4-3,6% at the end of 2019, because amidst the slowdown in public consumption, global economic instability is predicted to continue in the second half of this year.

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