Uruguay Inflation


Inflation jumps at the outset of the year

In January, consumer prices increased 1.90% over the previous month, which contrasted the 0.73% drop seen in December and exceeded market expectations of a 1.10% rise. In addition, the reading marked the highest monthly rise in nine years, largely reflecting a 23.8% surge in electricity prices, as the state owned company UTE terminated its discount policy.

As a result of the monthly jump, annual headline inflation climbed from 7.5% in December to 8.7% in January, which is well above the Central Bank's target range of 4.0%-6.0%.


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Uruguay Inflation Chart

Uruguay Inflation January 2013

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

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