Uruguay’s Consumer Price Index (CPI) stood at 8.29 percent year-on-year in December, a slight drop from the previous month, when it fell to 8.46 percent, according to data from Uruguay’s National Statistics Institute (INE).
Thus, for the year-to-date, inflation was 8.29 percent, the same figure as in December. The CPI has not fallen below 8 percent in all of 2022, the last time it was below this figure in December 2021.
Meanwhile, in monthly terms, prices decreased by 0.26 percent, unlike in the previous month, when they increased by 0.28 percent.
The main effects, expressed in percentage points on the monthly variation of the index for the month of December, came mainly from the food and non-alcoholic beverages (0.18), housing (-0.47) and transportation (-0.12) divisions.
Recently, Uruguay’s central bank decided to increase interest rates by 25 basis points to 11.5 percent, one of the highest in the region and in view of continued above-target inflation.
Source: (EUROPA PRESS)
