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Uruguay’S Inflation Hits 5.49% In 2024, Stays Within Target Range
(MENAFN- The Rio Times) Uruguay's Economy achieved a significant milestone in 2024. The country's inflation rate settled at 5.49%, marking the second consecutive year within the official target range. This range, set by the Central bank of Uruguay (BCU) , spans from 3% to 6%. The National Statistics Institute (INE) released this data on Friday.
The Consumer Price index (CPI) showed a slight increase compared to 2023. Last year's inflation rate was 5.11%, the lowest in 18 years. However, 2024's figure remained well below the 8.29% recorded in 2022. This trend indicates a stable economic environment in Uruguay.
December 2024 saw a monthly CPI rise of 0.34%. Key drivers were recreation, sports, and culture at 3.07%, restaurants and accommodation at 1.03%, and transport at 0.82%. These figures reflect normal economic activity without excessive price hikes.
Analysts had predicted a 5.37% inflation rate for 2024. Their forecast for December was a 0.2% monthly increase. The actual results closely matched these projections, suggesting accurate economic assessments.
Since mid-2023, Uruguay has experienced its lowest inflation levels since 2005. This achievement stands out as a major economic success for President Luis Lacalle Pou's administration. It demonstrates effective monetary policy management.
Uruguay's Inflation Hits 5.49% in 2024, Stays Within Target Range
The BCU raised the Monetary Policy Rate by 25 basis points to 8.75% in late December. This move aims to guide inflation and expectations towards 4.5% annually within two years. It shows the central bank's commitment to maintaining economic stability.
Uruguay's economic performance reflects a balanced approach. The government has managed to control inflation without resorting to heavy-handed interventions. This strategy aligns with principles of economic freedom and responsible fiscal management.
The Consumer Price index (CPI) showed a slight increase compared to 2023. Last year's inflation rate was 5.11%, the lowest in 18 years. However, 2024's figure remained well below the 8.29% recorded in 2022. This trend indicates a stable economic environment in Uruguay.
December 2024 saw a monthly CPI rise of 0.34%. Key drivers were recreation, sports, and culture at 3.07%, restaurants and accommodation at 1.03%, and transport at 0.82%. These figures reflect normal economic activity without excessive price hikes.
Analysts had predicted a 5.37% inflation rate for 2024. Their forecast for December was a 0.2% monthly increase. The actual results closely matched these projections, suggesting accurate economic assessments.
Since mid-2023, Uruguay has experienced its lowest inflation levels since 2005. This achievement stands out as a major economic success for President Luis Lacalle Pou's administration. It demonstrates effective monetary policy management.
Uruguay's Inflation Hits 5.49% in 2024, Stays Within Target Range
The BCU raised the Monetary Policy Rate by 25 basis points to 8.75% in late December. This move aims to guide inflation and expectations towards 4.5% annually within two years. It shows the central bank's commitment to maintaining economic stability.
Uruguay's economic performance reflects a balanced approach. The government has managed to control inflation without resorting to heavy-handed interventions. This strategy aligns with principles of economic freedom and responsible fiscal management.
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