Uruguay Inflation August 2019

Uruguay

Uruguay: Inflation falls to 16-month low, touches target range

September 4, 2019

Consumer prices rose 0.9% from a month earlier in August, accelerating marginally from July’s 0.8% increase. A breakdown of the sub-components provided by the Statistical Institute showed that 10 out of 12 sub-components saw an increase in prices, led by considerably higher prices for food and non-alcoholic beverages which more than offset slightly lower prices for clothing and footwear

Meanwhile, inflation edged down to 7.0% in August, from 7.5% in July, falling to the upper bound of the Central Bank’s 3.0%–7.0% target range. Notably, August result marked the lowest reading since April 2018. As a result, annual average inflation ticked down from 7.8% in July to 7.7% in August.

FocusEconomics panelists expect inflation to close 2019 at 7.7%, which is up 0.1 percentage points from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 7.2%.


Author:, Economist

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Uruguay Inflation August 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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