Uruguay: Inflation inches down in November
December 4, 2012
In November, consumer prices rose 0.35% over the previous month, which was significantly below the 1.15% increase seen in October and marked, in fact, the lowest rate in four months. According to the National Statistics Office, the reading was driven by higher prices for clothing, hotels and restaurants, as well as housing.
As a result of the subdued monthly increase, annual headline inflation inched down from 9.1% in October to 9.0% in November. At the current level, inflation remains well 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