Uruguay Inflation

Uruguay

Uruguay: Inflation in August jumps to highest level in over a-year-and-a-half

September 3, 2015

In August, consumer prices rose 1.18% over the previous month, which came in marginally below the 1.21% rise tallied in July. According to the Statistical Institute, August’s increase mainly resulted from higher prices for food, non-alcoholic beverages and transport.

Inflation rose from 9.0% in July to 9.5% in August and now stands at its highest level since March 2014. Annual average inflation inched up from July’s 8.2% to 8.3% in August. As a result, inflation moved further above the Central Bank’s target range 3.0%–7.0%.

LatinFocus Consensus Forecast participants expect inflation to close 2015 at 8.1%, which is unchanged from last month’s projection. For 2016, panelists see inflation easing to 7.7%.


Author: Teresa Kersting, Economist

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Uruguay Inflation August 2015

Note: Annual and monthly variation of consumer price index in %. Expectations of monthly variations of consumer price index in %.
Source: National Statistical Institute (INE) and Uruguay Central Bank (BCU).


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