Uruguay Inflation December 2021

Uruguay

Uruguay: Inflation ticks up in December

January 5, 2022

Consumer prices decreased 0.10% over the previous month in December, contrasting November's 0.25% rise. December's drop was primarily driven by softer growth in prices for clothing, while housing and shelter prices dropped significantly. That said, food and beverages prices rebounded in December, limiting the overall drop in prices.

Inflation came in at 8.0% in December, which was slightly stronger than November’s 7.9% reading. Nevertheless, the trend pointed down slightly, with annual average inflation coming in at 7.8% in December (November: 7.9%).

Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2022 at 7.0%, which is up 0.2 percentage points from last month’s forecast, and 2023 at 6.4%.


Author:, Economist

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Uruguay Inflation December 2021

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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