LatinNews Regional Monitor: Brazil & Southern Cone - 06 April 2020

* Uruguay’s national statistics institute (INE) has released the latest figures for the consumer price index (IPC), which show that annual inflation rose to 9.2% in March, a 0.9 percentage-point increase on the previous month. This is the highest figure for annual inflation recorded since August 2016. Month-on-month inflation stood at 1.33% in March, driven by a 2.19% monthly increase in the price of food and non-alcoholic drinks, and a 2.66% increase in the cost of transport. A weak currency and the impact of drought on agricultural output are expected to continue to push living costs up, with the central bank’s (BCU) target of 3%-7% inflation already well out of reach.

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