Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and...
Inflation in Uruguay
Consumer price inflation in Uruguay averaged 8.9% in the ten years to 2024, in line with the Latin America regional average of 8.9%. The 2024 average figure was 4.8%. For more information on inflation, visit our dedicated page
Uruguay Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Uruguay from 2014 to 2024.
Source: Macrobond.
Uruguay Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 9.8 | 7.7 | 9.1 | 5.9 | 4.8 |
| Inflation (CPI, ann. var. %, eop) | 9.4 | 8.0 | 8.3 | 5.1 | 5.5 |
| Inflation (PPI, ann. var. %, aop) | 10.5 | 14.4 | 12.4 | -7.5 | 3.3 |
Inflation falls to lowest level since January in May
Latest reading: Inflation fell to 5.1% in May from April’s 5.4%, marking the weakest result since January. The softer rise was primarily due to a milder increase in prices for food and non-alcoholic beverages. In addition, cost pressures for clothing and footwear fell at a sharper rate, and prices for transportation grew at a more subdued pace. That said, the trend pointed slightly up, with annual average inflation rising to 5.3% in May (April: 5.2%). Finally, consumer prices increased 0.11% from the previous month in May, slowing down from April's 0.32% increase. May's result marked the weakest reading since July 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Uruguayan inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Uruguayan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Uruguayan inflation projections.
Want to get access to the full dataset of Uruguayan inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Hong Kong: Inflation moderates in May -
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Japan: Inflation declines to lowest level since November 2024 in May Latest reading: Inflation ticked down to 3.5% in May, from April’s 3.6%. May’s reading marked the weakest inflation rate since... -
Lithuania: Harmonized inflation dips in May Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.6%. May’s figure represented the weakest inflation... -
Netherlands: Harmonized inflation falls in May Latest reading: Harmonized inflation came in at 2.9% in May, which was down from April’s 4.1%. May’s reading represented the... -
Estonia: Harmonized inflation rises in May Latest reading: Harmonized inflation increased to 4.6% in May, following April’s 4.4%. The reading was driven by stronger price pressures... -
Austria: Harmonized inflation falls to lowest level since December 2024 in May Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.3%. May’s reading represented the lowest inflation...