MercoPress. South Atlantic News Agency

Uruguay's inflation for August above government targets

August was the second largest monthly increase so far this year, according to Uruguay's INE

Uruguay's National Statistics Institute (INE) Friday issued its monthly report according to which the country's Consumer Price Index (CPI) for August 2021 showed a 0.85% increase.

Friday's data place yoy rates at 7.59%, still above the Government's target, while in the first eight months of the year, inflation climbed 6.19% for a yearly projection over the government's plans of between 3% and 7%.

August was the second-largest monthly increase so far this year, below January, which reached 1.6%, with food and non-alcoholic beverages accounting for most of the rise (0.86%), together with transport (1.78%) and health care (1.77%). None of the items monitored by the INE showed a negative variation as a whole.

Fruits did go down -0.43% due to a drop in the prices of oranges (-5.83%) and strawberries (-14.28%), but they were compensated by an increase in the price of bananas (4.02%) and pears (9.16%).

Legumes and vegetables also reported their ups and downs: Tomatoes went down (-12.43%) as did carrots (-8.87%) and peppers (-11.15%), but zucchini went up (12.46%).

Housing rose 0.53% particularly due to a 12.57% increase in the price of cooking gas.

The overall rise in transport costs was driven by an increase in the price of regular fuel (7.58%), diesel (10.94%), taxi fares (5.25%) and School buses transport (3.90%).