Uruguay: Inflation in July soars to highest level in a year
August 5, 2015
In July, consumer prices rose 1.21% over the previous month, which came in above the 0.45% rise tallied in June and marked a six-month high. According to the Statistical Institute, July’s increase mainly resulted from higher prices for food, beverages as well as for tobacco.
Inflation rose from 8.5% in June to 9.0% in July and now stands at its highest level since July 2014. Annual average inflation was stable at June’s 8.2%. As a result, inflation remains above the Central Bank’s target range 3.0%–7.0%.