MercoPress. South Atlantic News Agency

Inflation in Uruguay during November climbs 0.2%, but still above target

Housing, food and beverage had the greatest price impact during the last month

Consumer prices in Uruguay during November increased 0.2% over the previous month with annual inflation reaching 8.51% compared to the 8.67% of October. Nevertheless in the eleven months of 2013, consumer prices have climbed 9.31%, which is a whole percentage point higher than the same period a year ago, according to the latest release from the country's Stats Office, INE.

 November inflation with 0.2% is half the 0.4% of average expectations and the lowest reading since last December. In November 2012, consumer inflation reached 0.35%. Core inflation which excludes the most volatile elements of the basic basket (such as beef and fresh vegetables and fruits, fuels and government utility rates, stood at 0.37% in November, totaling 8,97%so far this year and 9.16% in the last twelve months.

Items with the greatest influence were Housing and Food and Beverage with 0.08% and 0.05% respectively. In Housing, rent, repairs and paint prices climbed the most (up to 0.53%). Food prices were up 0.18%, while Clothing and Footwear as well as Restaurants and Hotels contributed 0.04 percentage points in each case.

At the other end Transport and Healthcare had a negative impact of 0.02 and 0.01 points respectively.

In the last twelve months to November inflation in Housing was up 16.1% and education, 11.7%.