Uruguay: Inflation eases slightly in April
Consumer prices ticked up 0.1% month-on-month in April, below March’s 0.3% increase, and marking the lowest rise so far this year. The print came in below the Central Bank’s expectations of a 0.3% increase. According to data released by the Statistical Institute, the result was primarily driven by lower prices for food and non-alcoholic drinks, and recreation and culture nearly outweighing the increase in prices for other components of the index, most notably for clothing and footwear, restaurants and hotels, and miscellaneous goods and services.
Headline inflation continued the downward trend in April, easing slightly to 6.5%, down from the previous month’s 6.7% print. As a result, inflation stayed within the Central Bank’s target range of 3.0%–7.0% for the second consecutive month, after slipping just outside of the upper bound of the range briefly in February. Annual average inflation remained stable at 6.1% in April.