Uruguay's Retail Prices Show Low Stickiness, Raising Doubts on Monetary Policy.
The study looked at prices in stores in Uruguay and found that prices change every two and a half months on average. Prices in Uruguay change more often than in the US, Brazil, and Chile, but less often than in the UK. There is no specific time of year when prices are more likely to change. Prices for personal care products are affected by expected inflation, while food prices change by different amounts rather than how often they change. Prices are most likely to change at the beginning of the month, and the likelihood of a price change varies over time. Overall, prices in Uruguay are not very sticky, which could make it harder for monetary policy to work effectively.