Uruguay: Inflation edges higher in January
February 5, 2016
In January, consumer prices increased a staggering 2.5% over the previous month, which contrasted the 0.6% decline tallied in December, and marked the highest figure since September 2002. According to the Statistical Institute, January’s increase mainly resulted from higher prices in the housing component of the index, which takes into account lower prices of electricity.
Inflation ticked up from 9.4% in December to 9.7% in January. As a result, inflation remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation inched up from 8.7% in December to 8.8% in January, which marked the highest reading in 13 months.
Author: Robert Hill, Economist