Consumer prices declined by 0.23% in June 2019 compared with the previous month and by 2.98% as compared to the end of last year (December 2018), while annual inflation fell to 3.84% amid the fall in food prices by 0.47%, non-food goods by 0.24% and the increase in services by 0.17%, according to the National Statistics Institute data released on Wednesday.

In May, consumer prices rose 0.46% compared with April, and annual inflation rate was 4.1%, according to Agerpres.

“Consumer prices in June 2019 increased by 3.8% as compared to June 2018. The annual rate based on the Harmonized Index of Consumer Prices (HICP) is 3.9%. The average consumer price index in the last 12 months (July 2018 – June 2019) compared to the previous 12 months (July 2017 – June 2018), calculated on the basis of the CPI, is 4.1%, while based on the HICP, the average rate is 4.0%.

On July 4, the governor of the Central Bank estimated that June’s inflation may fall below 4%, according to data that the NBR has from the market.