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Uruguay Inflation November 2023

Uruguay: Inflation comes in at highest level since June in November

Inflation increased to 5.0% in November, above October’s 4.3%. November’s reading marked the highest inflation rate since June, though it remained within the Central Bank’s 3.0–6.0% target range. Looking at the details of the release, the increase was broad-based with prices for transport growing at the quickest pace in 11 months, Similarly, price pressures for food and non-alcoholic beverages and housing and utilities rose at a faster pace in November.

Annual average inflation fell to 6.1% in November (October: 6.4%).

Lastly, consumer prices rose 0.34% over the previous month in November, slowing down from October’s 0.63% increase. November’s result marked the weakest reading since August.

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