Uruguay Inflation June 2019

Uruguay

Uruguay: Inflation falls to a five-month low in June

July 4, 2019

Consumer prices rose 0.6% from a month earlier in June, up slightly from May’s 0.4% increase. A breakdown of the sub-components provided by the Statistical Institute showed that 9 out of 12 saw an increase in prices, led by higher prices for food and non-alcoholic beverages, miscellaneous goods and services, and restaurants and hotels.

Meanwhile, inflation fell from 7.7% in May to 7.4% in June, marking the lowest reading since January. As a result, it edged closer to the Central Bank’s 3.0%–7.0% target range. Lastly, annual average inflation ticked down from a two-year high of 8.0% in May to 7.9%.

FocusEconomics panelists expect inflation to close 2019 at 7.5%, which is up 0.1 percentage points from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 7.0%.


Author:, Economist

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Uruguay Inflation June 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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