Uruguay Inflation October 2019

Uruguay

Uruguay: Inflation jumps to 13-month low in October

November 6, 2019

Consumer prices rose 0.8% from a month earlier in October, accelerating from September’s 0.5% increase. A breakdown of the sub-components provided by the Statistical Institute showed that 11 of the 12 sub-components saw an increase in prices, led by higher prices for food and non-alcoholic beverages, and clothing and footwear.

Meanwhile, inflation jumped to 8.3% in October, from 7.6% in September, marking the strongest increase since September 2018. As a result, inflation moved further above the upper bound of the Central Bank’s 3.0%–7.0% target range. That said, annual average inflation remained stable at 7.8% in October, where it has been since July.

FocusEconomics panelists expect inflation to close 2019 at 7.6%, which is up 0.2 percentage points from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 6.8%.


Author:, Economist

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Uruguay Inflation October 2019

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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