Uruguay: Inflation accelerates in January
February 3, 2017
In January, consumer prices grew 2.6% from the previous month, contrasting December’s 0.6% fall. January’s print marked the highest reading since September 2002 and overshot the 2.4% price increase expected in the Central Bank’s monthly survey. January’s result was mainly driven by higher prices for housing and alcoholic beverages and tobacco, according to the Statistical Institute.
Inflation in January came in at 8.3%, up from 8.1% in December, moving further above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation in January inched down to a nine-month low of 9.5% from December’s 9.6%.