Uruguay Inflation

Uruguay

Uruguay: Inflation ticks down in December

January 5, 2016

In December, consumer prices decreased 0.6% over the previous month, which contrasted the 0.4% rise tallied in November, and marked the lowest figure since December 2013. According to the Statistical Institute, December’s decrease mainly resulted from lower prices in the housing component of the index, which takes into account lower prices of electricity.

Inflation ticked down from 9.5% in November to 9.4% in December. As a result, inflation remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation inched up from 8.6% in November to 8.7% in December, which marked the highest reading in 11 months.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 9.1%, which is up 0.1 percentage points from last month’s projection. For 2017, panelists see inflation easing to 8.6%.


Author:, Economist

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Uruguay Inflation December 2015 0

Note: Annual and monthly variation of consumer price index in %. Expectations of monthly variations of consumer price index in %.
Source: National Statistical Institute (INE) and Uruguay Central Bank (BCU).


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