The inflation fell to 5.09% year-on-year during January, after ending last year with a cumulative 5.11% throughout the twelve months of 2023, causing some sectors of the Uruguayan economy lower your prices.
The inflation data comes from the latest report on the estimates of the Consumer Price Index (CPI) prepared by the National Institute of Statistics (INE)corresponding to last January.
Meanwhile, the CPI recorded an accumulated monthly (and annual) variation of 1.53% during January (with base period in October 2022), establishing the number of the General index at 106.15.
If compared to the month of January 2023 – where the number of General index was 101.01 – while the accumulated monthly (and annual) variation then was 1.55%. During the first month of last year, the CPI estimate reached up to 8.05% year-on-year.
What were the sectors that lowered their prices?
Although the majority of the sectors of the Uruguayan economy registered a small increase in the prices of their products, there are two categories that registered a decrease.
One of them is the sector of Clothes and shoesa phenomenon that, according to INE, It is due to seasonal settlement causing a general decrease of 3.61%. Within the category, what dropped the most was women’s clothing with 6.73%, followed by women’s footwear with 5.63%, children’s and baby footwear with 4.47% and, finally, men’s clothing and footwear with 2.03 and 2.16% less, respectively.
Meanwhile, the other category corresponds to the transport with a general decrease of 0.73%. According to the INE, the drop in price is due, first of all, to the decrease in the values of the gasoil by 3.48%. Meanwhile, the rolling patents they had a drop of 6.89%, the passenger transport with driver a decrease of 3.80% and plane tickets They were the ones that fell the most with 14.14%.
The main sectors that increased their prices
Among the main factors influencing inflation in January, the Housing, Water, Electricity, Gas and other Fuels divisionwhose prices increased by an average of 4.98%, affecting 0.64 percentage points (pp) on the CPI.
Likewise, the division of Food and non-alcoholic beverages increased its prices by 1.75% during the past month, impacting 0.46 pp on the CPI. The podium is completed by the division of Restaurants and Accommodation Serviceswhich increased by 2.11%, but had an impact of 0.18 pp
Source: Ambito
