Uruguay Inflation March 2017

Uruguay

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

April 6, 2017

In March, consumer prices in Uruguay grew 0.7% from the previous month, up from February’s 0.5% rise. The result matched expectations from the Central Bank’s monthly survey and was mainly driven by higher prices for transport and food and non-alcoholic beverages, according to the Statistical Institute.

Inflation in March came in at 6.7%, down from 7.1% in February, moving into the Central Bank’s target range of 3.0%–7.0% for the first time in over six years. Annual average inflation in March inched down to a 13-month low of 8.9% from February’s 9.3%.

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 March 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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