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Uruguay Inflation March 2020

Uruguay: Inflation at over three-year high in March

Consumer prices jumped 1.3% from a month earlier in March, accelerating from the 0.6% increase recorded in February. A breakdown of the sub-components provided by the Statistical Institute showed that all 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 transport.

Meanwhile, inflation climbed from 8.3% in February to 9.2% in March, logging the highest reading since August 2016. Therefore, inflation rose further above the upper bound of the Central Bank’s 3.0%–7.0% target range. Lastly, annual average inflation ticked up from 8.1% in February to 8.2% in March, the highest reading in close to three years.

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