Uruguay Inflation October 2022

Uruguay

Uruguay: Inflation decreases in October

November 4, 2022

Inflation eased to 9.0% in October from September’s 9.9%. October's reading marked the lowest inflation rate since February. The slowdown was largely due to a softer rise in prices for food and non-alcoholic beverages, clothing and footwear, and transportation.

That said, the trend pointed up slightly, with annual average inflation coming in at 9.0% in October (September: 8.9%).

Lastly, consumer prices rose 0.21% in October over the previous month, following September's 0.84% increase. October's result marked the lowest reading since December 2021.

FocusEconomics analysts see inflation ending 2023 at 7.3%, which is up 0.1 percentage points from the previous month’s forecast. In 2024, our panel sees inflation ending the year at 6.7%.


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Uruguay Inflation October 2022 2

Note: Annual and monthly variation of consumer price index in %. Expectations of monthly variations of consumer price index in %.
Source: National Statistics Institute (INE) and Uruguay Central Bank (BCU).


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