Uruguay Inflation December 2020

Uruguay

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:, Economist

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Uruguay Inflation December 20 20 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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