Uruguay Inflation


Inflation drops in July

In July, consumer prices rose 0.27% over the previous month, which was a notch down from the 0.30% increase seen in June. The reading was driven by a pick-up in prices for food and non-alcoholic beverages as well as for household goods and furniture, which more than compensated a strong drop in housing. As a result of the relatively moderate monthly increase, annual headline inflation dropped from 8.0% in June to 7.5% in July. Nonetheless, inflation remains largely above the 1.0 percentage point tolerance margin around the Central Bank's target of 5.5% set by monetary authorities for this year.

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Uruguay Inflation Chart

Uruguay Inflation July 2012

Note: Annual and monthly variation of consumer price index in %.
Source: National Statistical Institute (INE).

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