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Montevideo, June 20th 2018 - 00:14 UTC

Tag: UTE Prize

  • Saturday, January 7th 2017 - 07:14 UTC

    Uruguayan bureaucrats good at cooking inflation numbers

    “UTE Prize”, a good instrument used every December, since 2012, to ensure annual inflation remains at a single digit

    Last December, the CPI actually contracted 0.55%, something similar to what happened twelve months before helped by a significant decrease in the power rate, estimated at 19.65% and which benefitted over a million clients. The logo of the end of the year bonus campaign is “Ute Prize” (UTE is the Uruguayan power company which works under a government monopoly regime).