Uruguay Inflation January 2021

Uruguay

Uruguay: Inflation drops to near one-year low in January

February 4, 2021

Consumer prices rose 1.60% from the previous month in January, swinging from December's 0.19% drop and marking the sharpest increase in prices since April 2020. The rebound was driven by rising prices for food and non-alcoholic beverages as well as for housing.

Meanwhile, inflation fell to 8.9% in January, from December’s 9.4%. January's result marked the lowest inflation rate since February 2020. Annual average inflation was unchanged at December's 9.8% in January.

Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2021 at 7.5%, which is up 0.1 percentage points from last month’s forecast, and 2022 at 7.0%.


Author:, Economist

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Uruguay Inflation January 2021 0

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


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