Uruguay: Inflation stable in May
June 4, 2013
In May, consumer prices increased 0.32% over the previous month, which was below the 0.45% rise seen in April and market expectations of a 0.36% rise. The reading was largely driven by higher prices for furnishing and housing equipment as well as for clothing and footwear.
Meanwhile, annual inflation was stable at April's 8.1%, which is well above the Central Bank's target range of 4.0%-6.0%.
FocusEconomics Consensus Forecast participants expect inflation to moderate to 7.9% by the end of the year, which is up 0.1 percentage points from last month's projection. For 2014, panellists anticipate that inflation will fall to 7.2% by year-end.
Author: Armando Ciccarelli, Head of Data Solutions