Uruguay Inflation April 2017

Uruguay

Uruguay: Inflation drops to more than six-year low in April

May 4, 2017

In April, consumer prices in Uruguay grew 0.2% from the previous month, down from March’s 0.7% rise. The result undershot expectations from the Central Bank’s survey of a 0.5% monthly increase and was mainly driven by higher prices for restaurants and hotels and clothing and footwear, according to the Statistical Institute.

Inflation in April came in at 6.5%, down from 6.7% in March, marking the lowest result since September 2010 and staying within the Central Bank’s target range of 3.0%–7.0% for the second month in a row. Annual average inflation in April edged down to a 17-month low of 8.6% from March’s 8.9%.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2017 at 8.8%, which is unchanged from last month’s projection. For 2018, panelists see inflation easing to 7.8%.


Author: Massimo Bassetti, Economist

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Uruguay Inflation April 2017

Note: Annual and monthly variation of consumer price index in %. Expectations of monthly variations of consumer price index in %.
Source: National Statistical Institute (INE) and Uruguay Central Bank (BCU).


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