Uruguay Inflation

Uruguay

Uruguay: Inflation ticks up in October

November 5, 2015

In October, consumer prices rose 0.60% over the previous month, which came in slightly below the 0.69% rise tallied in September. According to the Statistical Institute, October’s increase mainly resulted from higher prices for clothing and footwear, as well as for healthcare and transport.

Inflation ticked up from 9.1% in September to 9.2% in October. As a result, inflation remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation inched up from 8.4% in September to 8.5% in October, which marked the highest reading in eight months.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2015 at 9.1%, which is up 0.1 percentage points from last month’s projection. For 2016, panelists see inflation easing to 8.6%, which is up 0.2 percentage points from last month’s forecast.


Author: Teresa Kersting, Economist

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Uruguay Inflation October 2015

Note: Annual and monthly variation of consumer price index in %. Expectations of monthly variations of consumer price index in %.
Source: National Statistical Institute (INE) and Uruguay Central Bank (BCU).


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