Uruguay: Inflation remains elevated in April
May 4, 2016
In April, consumer prices increased 0.5% over the previous month, which was down from the 1.0% increase tallied in March. According to the Statistical Institute, April’s rise was mainly driven by higher prices for food and non-alcoholic beverages, as well as for clothing and footwear.
After hitting an over-12-year high of 10.6% in March, inflation receded marginally in April, slowing to 10.5%. Nevertheless, inflation rested at a high level and well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation edged up from 9.3% in March to 9.5% in April, which marked the highest reading in more than 11 years.