Uruguay Inflation July 2019

Uruguay

Uruguay: Inflation ticks up in July

August 5, 2019

Consumer prices rose 0.8% from a month earlier in July, accelerating mildly from June’s 0.6% increase. A breakdown of the sub-components provided by the Statistical Institute showed that the reading largely reflected higher prices for food and non-alcoholic beverages, health, and restaurants and hotels, which more than offset lower prices for clothing and footwear.

Meanwhile, inflation inched up to 7.5% in July from 7.4% in June, moving further above the Central Bank’s 3.0%–7.0% target range. Annual average inflation ticked down from 7.9% in June to 7.8% in July, however.

FocusEconomics panelists expect inflation to close 2019 at 7.6%, which is from last month’s projection. For 2020, panelists see inflation moderating and ending the year at 7.2%.


Author:, Economist

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Uruguay Inflation July 2019

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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