Uruguay: Inflation recedes to ten-month low in August
September 5, 2016
In August, consumer prices increased 0.6% over the previous month, up from July’s 0.4% rise. August’s print marked a three-month high and overshot the 0.4% price increase expected in the Central Bank’s monthly survey. August’s result was mainly driven by higher prices for food and non-alcoholic beverages as well as for healthcare, according to the Statistical Institute.
Inflation moderated for a third consecutive month to a 10-month low of 9.4% in August (July: 10.1%), after hitting a 12-year high in May. Nevertheless, inflation remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation in August was stable at July’s 10.0%, the highest reading in 12 years.