Uruguay: Inflation drops to nine-month low in December
January 5, 2021
Consumer prices dropped 0.19% from the previous month in December, swinging from November's 0.28% increase. December's result marked the sharpest fall in prices since December 2018. The reading was driven by falling prices for clothing and footwear and housing. Inflation came in at 9.4% in December, which was down from November’s 9.6%. December's figure marked the lowest inflation rate since March. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 9.8% in December (November: 9.7%).Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2021 at 7.4%, which is up 0.1 percentage points from last month’s forecast, and 2022 at 7.1%.
Author: Hanna Andersson, Economist