Latin America

Reported increase in year-on-year inflation in Uruguay in July | News

The National Institute of Statistics (INE) of Uruguay reported this Wednesday that year-on-year inflation ending in July amounted to 9.56 percent, exceeding the figure of 9.29 from last June and becoming the highest level in the which goes from 2022.

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Between January and July of this year, the Consumer Price Index (CPI) reflects an increase of 6.86 percent and only in July 2022 it reached 0.77 percent, surpassing the mark of 0.52 registered in the same period of 2021.

INE data indicate that year-on-year inflation exceeds the official ranges, between three and seven percentage points, for the fourteenth consecutive month.

This year, the Administration of President Luis Lacalle Pou took measures to reduce the prices of some categories of beef, and wheat derivatives such as noodles and bread, applying tax exemptions for several weeks.

Based on projections of the National Budget for the period 2020-2025, the Uruguayan Government has as a goal to reduce inflation rates below six percent before the end of 2022, and expects it to be 3.7 percent by the end of 2022. end of 2024.

However, the country’s Central Bank forecasts that by the end of 2022, inflation in Uruguay will rise to 8.60 percent.

Disclaimer: Via Telesur – Translated by RJ983

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