Uruguay: Inflation drops in July
August 2, 2012
In July, consumer prices rose 0.27% over the previous month, which was a notch down from the 0.30% increase seen in June. The reading was driven by a pick-up in prices for food and non-alcoholic beverages as well as for household goods and furniture, which more than compensated a strong drop in housing. As a result of the relatively moderate monthly increase, annual headline inflation dropped from 8.0% in June to 7.5% in July. Nonetheless, inflation remains largely above the 1.0 percentage point tolerance margin around the Central Bank's target of 5.5% set by monetary authorities for this year.
Author: Armando Ciccarelli, Head of Data Solutions