MercoPress. South Atlantic News Agency

Uruguay's inflation reaches 1.1% in January

The interannual index fell within the Government's target range

Uruguay's Consumer Price Index (CPI) went up 1.1% last month and 5.05% interannually, the National Institute of Statistics (INE) said in a report released Wednesday in Montevideo. Wednesday's figures represented a slight improvement for President Luis Lacalle Pou's administration after recording 1.53% in January 2024 for a 5.09% yoy.

Driving prices upwards were increases in Restaurants and Accommodation Services (0.21%), Food and Non-Alcoholic Beverages (0.2%), Information and Communication (0.19%), Housing, Water, Electricity, Gas and Other Fuels (0.16%), Transport (0.14 %), and Insurance and Financial Services (0.12%).

The year-on-year 5.05% index was within the target range set forth by the Economy Ministry's Macroeconomic Coordination Committee, which established a bracket between 3% and 6%. In December, it stood at 5.49%.

Within Food and Non-Alcoholic Beverages, there were increases in meat and byproducts (1.93 %), cereals and cereal-based products (0.71 %), milk and other dairy products (0.36 %), and fruits and nuts (1.45 %). At the same time, vegetables, tubers, and legumes fell 2.06 % overall despite lemons going up 23.57% and onions 16.45%. On the other hand, pumpkins and squashes fell 22.38%) and sweet potatoes 11.62%.