Uruguay Inflation

Uruguay

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%.

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 July 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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