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Overview
- Monthly inflation rose to 4.6% in June, breaking a five-month decline.
- Utility bills surged as subsidies were cut, significantly affecting middle-class households.
- Fuel tax and utility price hikes were postponed to prevent further inflation spikes.
- The central bank plans to use new Treasury debt for monetary policy to achieve positive real rates.
- Economic austerity measures have deepened the recession, with recovery expected in 2025.