Uruguay Inflation July 2021

Uruguay

Uruguay: Inflation holds steady in July

August 4, 2021

Consumer prices rose 0.52% from the previous month in July, moderating from June's 0.67% increase. Looking at the details of the release, the result was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for housing. In addition, prices for transportation grew at a more subdued pace.

Inflation came in at 7.3% in July, unchanged from June’s result. Meanwhile, the trend pointed down, with annual average inflation felling to 8.5% in July (June: 8.8%).

Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2021 at 7.2%, which is unchanged from last month’s forecast, and 2022 at 6.7%.


Author:, Junior Economist

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Uruguay Inflation July 2021 1

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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