Uruguay Inflation November 2017


Uruguay: Inflation inches up in November

December 5, 2017

In November, consumer prices rose 0.3% from the previous month, below October’s 0.5% month-on-month rise. November’s print matched the Central Bank’s expectations. According to the Statistical Institute, the increase was driven by higher prices for clothing and footwear, and restaurants and hotels.

Inflation rose for the fourth consecutive month, inching up from the previous month’s 6.0% to 6.3% in November, the highest reading since April. Inflation creeped closer to the upper limit of the Central Bank’s target of 3.0%–7.0%. Annual average inflation, however, inched down from the prior month’s reading of 6.5% to 6.4% in November.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2018 at 6.4%, which is unchanged from last month’s projection. For 2019, panelists see inflation increasing to 7.1%.

Author:, Economist

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Uruguay Inflation Chart

Uruguay Inflation November 2017 0

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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