Uruguay Inflation January 2019


Uruguay: Inflation falls in January

February 5, 2019

Consumer prices rose 2.2% from a month earlier in January, compared to December’s 0.4% month-on-month drop and marking the highest reading in 12 months. According to data released by the Statistical Institute, January’s reading reflected higher housing costs as well as higher prices food and beverages.

Meanwhile, inflation moderated to an eight-month low of 7.4% in January, from 8.0% in December. As a result, it edged closer to the upper bound of the Central Bank’s 3.0%–7.0% target. Nevertheless, annual average inflation ticked up to 7.7% in the same month, from 7.6% in December, marking a 19-month high.

FocusEconomics panelists expect inflation to close 2019 at 7.5%, which is unchanged from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 7.0%.

Author:, Research Team Manager

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Uruguay Inflation Chart

Uruguay Inflation January 2019

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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