When doing the inflation calculations for all of 2021, the statistics conclude that there was a 7.96% increase driven by the rise in the consumer price index in December, which was 10 tenths.
The item that increased the most was transportation, and those that followed on the list were restaurants, hotels, food and non-alcoholic beverages.
The only heading that noticed a slight relief was that of housing, but rather due to the effect of the “UTE rewards” plan, which offers discounts on bills to users with better behaviors throughout the year.
The Central Bank of Uruguay had projected that 2021 would end with an inflation of 6%, but it was exceeded by almost two points.
Increases by item:
- Transportation: 13.38%
- Furniture, products and household items: 9.93%
- Alcoholic beverages and tobacco: 9.33%
- Miscellaneous goods and services: 8.33%
- Restaurants and hotels: 8.23%
- Housing: 7.71%
- Education: 7.38%
- Health: 7.16%
- Recreation and culture: 7.04%
- Clothing and footwear: 6.55%
- Food and non-alcoholic beverages: 6.50%
Methodological data
The price that is considered for the calculation of the CPI is the buyer price, defined as the cash price actually paid, including indirect taxes paid by the buyer.
The source of statistical information for the price data of the goods and services included in the new CPI base is the establishment of direct sales to the consumer.
The survey is carried out on a selection by sampling of the existing establishments in the city of Montevideo and in the selected localities in the interior.
The prices used to calculate the CPI are collected through direct interviews with the informants in the selected places of sale, with the exception of large supermarket chains with which a system for sending information electronically was established.
The survey is carried out during the first 19 business days of the month in the city of Montevideo and during the first 18 business days in the case of inland cities, in order to have information that represents the price variations that take place at throughout the month and to be able to count on the CPI estimate on the third business day of the following month.
The Inflation Report of the National Institute of Statistics (INE) can be consulted in full in this link.
