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Uruguay Inflation May 2023

Uruguay: Inflation declines to lowest level since May 2021 in May

Inflation came in at 7.1% in May, down from April’s 7.6%. May’s reading represented the lowest inflation rate since May 2021. The result was primarily driven by a more moderate increase in prices for food and non-alcoholic beverages and for clothing and footwear. Moreover, prices for transportation dropped at a sharper rate.

In addition, the trend pointed down slightly, with annual average inflation coming in at 8.5% in May (April: 8.6%).

Finally, consumer prices dropped 0.01% over the previous month in May, contrasting April’s 0.75% increase. May’s result marked the lowest reading since December 2022.

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