Uruguay Inflation October 2020

Uruguay

Uruguay: Inflation falls to seven-month low in October

November 5, 2020

Consumer prices rose 0.58% in October over the previous month, a smaller increase than the 0.64% rise recorded in September. The reading was driven by moderating price pressures for food and non-alcoholic beverages and housing. In addition, prices for transportation goods fell from the previous month.

Inflation dropped to 9.7% in October, from September’s 9.9%, marking the weakest inflation rate since March. Meanwhile, annual average inflation rose to 9.6% in October (September:9.5%).

Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2020 at 9.5%, which is up 0.3 percentage points from last month’s forecast, and 2021 at 7.5%, which is also up 0.3 percentage points from last month’s estimate.


Author:, Economist

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Uruguay Inflation October 20 20

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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