Uruguay: Inflation at almost four-year high in April
May 6, 2020
Consumer prices jumped 2.0% from a month earlier in April, accelerating further from the 1.3% increase recorded in March. A breakdown of the sub-components provided by the Statistical Institute showed that all of the 10 out of the 12 sub-components saw an increase in prices, led by surging prices for food and non-alcoholic beverages, and a sizable increase in prices for housing. On the other hand, prices for education and recreation and culture declined.
Meanwhile, inflation climbed from 9.2% in March to 10.9% in April, logging the highest reading since June 2016. Therefore, inflation rose further above the upper bound of the Central Bank’s 3.0%–7.0% target range. Lastly, annual average inflation rose from 8.2% in March to 8.4% in April, the highest reading in three years.