Uruguay: Inflation hits over-12-year high in March
April 5, 2016
In March, consumer prices increased 1.0% over the previous month, which was down from the 1.6% increase tallied in February. According to the Statistical Institute, Mach’s rise was mainly driven by higher prices for food and non-alcoholic beverages, transport and home appliances along with moderate increases in almost all remaining categories of the inflation index.
Inflation hit an over-12-year high in March, coming in at 10.6% (February: 10.2%). As a result, inflation moved further above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation edged up from 9.0% in February to 9.3% in March, which marked the highest reading in over 11 years.