Uruguay: Inflation falls to over three-year low in May
June 3, 2021
Consumer prices rose 0.46% from the previous month in May, slowing down from the 0.50% rise recorded in April. May's result marked the softest rise in prices since December 2020. Looking at the details of the release, prices for food and non-alcoholic beverages as well as for housing grew at a stronger pace in May. However, prices for transportation grew at a more subdued pace.
Inflation edged down to 6.6% in May, moderately below April’s 6.8%. May's result marked the weakest inflation rate since April 2018. In addition, the trend pointed down, with annual average inflation coming in at 9.0% in May (April: 9.4%).
Author: Hanna Andersson, Economist