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.
Author: Almanas Stanapedis, Economist