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LatinNews Daily - 06 January 2021

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In brief: Uruguay’s inflation closes 2020 at five-year high

* Uruguay’s national statistics institute (INE) has released the latest figures for the national consumer price index (IPC), which saw monthly deflation of -0.19% in December 2020. This brings annual inflation to 9.41% in 2020. This is the highest annual inflation recorded since 2015, and is slightly above the figure projected by the central bank (BCU), which had forecast inflation of 9.3% for the year. Inflation in Uruguay has exceeded the target range of 3%-7% since 2018. President Luis Lacalle Pou, who took office in March 2020, aims to adjust this target to 3%-6% in 2022, with the objective of bringing inflation down to 3.7% by the end of 2024, when he will be approaching the end of his term.