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Uruguay Inflation June 2023

Uruguay: Inflation falls to lowest level since September 2017 in June

Inflation came in at 6.0% in June, which was down from May’s 7.1%. June’s reading represented the lowest inflation rate since September 2017. The result was driven by faster declines in prices for food and non-alcoholic beverages, and transportation. Moreover, price pressure for housing and utilities eased. Notably, inflation fell into the 3.0–6.0% Central Bank’s target range.

Meanwhile, annual average inflation fell to 8.2% in June (May: 8.5%).

Lastly, consumer prices fell 0.46% in June over the previous month, a sharper drop than May’s 0.01% downtick. June’s result marked the lowest reading since December 2016.

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