On the supply side, growth was driven still by broad-based expansion of services and industry sectors supported largely by the strong numbers coming from financial intermediation; public administration and defense, compulsory social security; trade and repair of motor vehicles; and construction.
Despite the El Niño phenomenon and the lingering effects of African Swine Fever, the agriculture sector managed to grow by 1.5 percent during the year. In 2019, headline inflation was 2.5 percent, well within the government’s target range of 2.0-4.0 percent, and was supported mainly by decelerating food inflation. The benign inflation is expected to support consumption demand moving forward.