Uruguay: Inflation at 16-month high in November
Consumer prices rose 0.4% from a month earlier in November, decelerating from October’s 0.8% jump. A breakdown by the Statistical Institute showed that 9 of the 12 sub-components saw an increase in prices, led by higher prices for food and non-alcoholic beverages, and restaurants and hotels.
Meanwhile, inflation inched up to 8.4% in November, from 8.3% in October, marking the strongest increase since July 2018. As a result, inflation moved further above the upper bound of the Central Bank’s 3.0%–7.0% target range. That said, annual average inflation remained stable at 7.8% in November, where it has been since July.