Uruguay Inflation May 2019

Uruguay

Uruguay: Inflation moderates in May

June 5, 2019

Consumer prices rose 0.4% from a month earlier in May, unchanged from April’s reading. A breakdown of the sub-components provided by the Statistical Institute showed that 8 out of 12 saw an increase in prices, led by higher prices for food and non-alcoholic beverages, and transport, which more than offset lower prices for household equipment and services.

Meanwhile, inflation fell from 8.2% in April to 7.7% in May. As a result, it moved closer to the Central Bank’s 3.0%–7.0% target range. Lastly, annual average inflation ticked up to a two-year high of 8.0% in May, from 7.9% in the previous month.

FocusEconomics panelists expect inflation to close 2019 at 7.5%, which is up 0.1 percentage points from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 7.0%.


Author:, Economist

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Uruguay Inflation May 2019 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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