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.
Author: Jan Lammersen, Economist