In January, Uruguay’s CPI rose 1.1%, with an annual inflation rate of 5.05%. This represents a slight improvement for President Lacalle Pou’s administration. Key sectors driving inflation included food services and housing. The inflation rate fits within the government’s target range, while various food products showed mixed price trends.
In January, Uruguay’s Consumer Price Index (CPI) increased by 1.1%, while the year-on-year inflation rate stood at 5.05%, according to the National Institute of Statistics (INE). This marks a modest improvement for President Luis Lacalle Pou, as January 2024 saw a CPI rise of 1.53% and a 5.09% annual rate. The inflation figures released on Wednesday reflect a positive trend in the administration’s economic management.
Several sectors contributed to the inflationary pressures, with notable increases in:
– Restaurants and Accommodation Services: 0.21%
– Food and Non-Alcoholic Beverages: 0.20%
– Information and Communication: 0.19%
– Housing, Water, Electricity, Gas, and Other Fuels: 0.16%
– Transport: 0.14%
– Insurance and Financial Services: 0.12%.
The 5.05% year-on-year inflation rate aligns with the Economy Ministry’s expectations, which set a target range of 3% to 6%. In December, the rate was recorded at 5.49%, indicating a downward trend. The monthly CPI increase suggests some stabilization in price levels and effective fiscal measures to contain inflation.
Breaking down the Food and Non-Alcoholic Beverages category, significant price rises were seen in meat (1.93%), cereals (0.71%), dairy products (0.36%), and fruits (1.45%). Conversely, there was an overall 2.06% decrease in prices for vegetables, tubers, and legumes, with individual fluctuations such as large increases for lemons (23.57%) and onions (16.45%), but decreases for pumpkins (22.38%) and sweet potatoes (11.62%).
Uruguay has faced inflationary challenges in recent years, prompting the government to implement various economic policies aimed at stabilization. Price increases have particularly affected essential goods and services, impacting consumer behavior and overall economic conditions. Understanding these dynamics is crucial for evaluating the effectiveness of current monetary and fiscal strategies pursued by the national administration. The National Institute of Statistics regularly monitors and reports on consumer price changes, providing valuable insights into inflation trends and economic health.
In summary, Uruguay’s inflation increased by 1.1% in January, with an annual rate of 5.05%, showing a slight improvement for the government. Key contributors included sectors like restaurants and food services, reflecting ongoing economic policies. The inflation figure aligns with the government’s target, indicating potential success in economic management despite mixed results in the food sector.
Original Source: en.mercopress.com
