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.
Author: Robert Hill, Economist