Uruguay Inflation August 2017

Uruguay

Uruguay: Inflation rebounds modestly in August

September 5, 2017

In August, consumer prices grew 0.8% from the previous month, up from July’s 0.3% rise. According to the National Statistics Institute, the rise was driven by higher prices for food and non-alcoholic beverages, healthcare and furniture.

Inflation in August increased for first time in seven months and came in at 5.5%, up from 5.2% in July. Therefore inflation remained within the Central Bank’s target range of 3.0-7.0%. Annual average inflation fell from July’s 7.3% to 6.9% in August–the lowest result in over six years.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2017 at 6.7%, which is down 0.3 percentage points from last month’s projection. For 2018, panelists see inflation easing to 7.4%.


Author: Massimo Bassetti, Economist

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Uruguay Inflation August 2017

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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