Uruguay: Inflation recedes to 20-month low in November
December 6, 2016
In November, consumer prices in Uruguay increased 0.1% from the previous month, down from October’s 0.2% rise. November’s print marked an 11-month low and undershot the 0.4% price increase expected in the Central Bank’s monthly survey. November’s result was mainly driven by higher prices for transport as well as for clothing and footwear, which more than offset lower prices food and non-alcoholic beverages, according to the Statistical Institute.
Inflation moderated for a sixth consecutive month to a 20-month low of 8.1% in November (October: 8.5%). Inflation has been falling since hitting an over 12-year high in May and yet in November it still remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation in November inched down to 9.8% from October’s 9.9%.