Uruguay: Inflation moderates in February
March 3, 2017
In February, Uruguayan consumer prices grew 0.5% from the previous month, down from January’s 2.6% rise. The result undershot the 1.0% price increase expected in the Central Bank’s monthly survey and was mainly driven by higher prices for education and housing, according to the Statistical Institute. Conversely, prices for food and non-alcoholic beverages declined.
Inflation in February came in at 7.1%, down from 8.3% in January, moving closer to the upper bound of the Central Bank’s target range of 3.0%–7.0%. Annual average inflation in February inched down to a 10-month low of 9.3% from January’s 9.5%.