Uruguay: Inflation inches down further in June
June 3, 2012
In June, consumer prices rose 0.30% over the previous month, which was down from the 0.39% increase seen in May. The reading was driven by a pick-up in prices for transport as well as for recreation and culture, which more than compensated a strong drop in food and non-alcoholic beverages. As a result of the more moderate monthly increase, annual headline inflation inched down from 8.1% in May to 8.0% in June. At the current level, inflation sits largely above the 1.0 percentage point tolerance margin around the Central Bank's target of 5.5% set by monetary authorities for this year.
Author: Armando Ciccarelli, Head of Data Solutions