Uruguay Inflation February 2016

Uruguay

Uruguay: Inflation edges higher in February

March 3, 2016

In January, consumer prices increased 1.6% over the previous month, down from the 2.5% increase tallied in January. According to the Statistical Institute, the slowdown was the result a large decrease in the price of housing.

Inflation ticked up from 9.7% in January to 10.2% in February, the highest figure since January 2004. As a result, inflation remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation edged up from 8.8% in January to 9.0% in February, which marked the highest reading in 18 months.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 9.1%, which is up 0.1 percentage points from last month’s projection. For 2017, panelists see inflation easing to 8.6%.


Author:, Economist

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Uruguay Inflation February 2016

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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