Uruguay: Inflation recedes in June
Consumer prices were unchanged from a month earlier in June, following the 0.6% increase recorded in May. A breakdown of the sub-components provided by the Statistical Institute showed that 6 out of the 12 sub-components saw an increase in prices, led by higher prices for recreation and culture and for clothing and footwear. On the other hand, prices for food and non-alcoholic beverages declined.
Meanwhile, inflation dropped from an over 17-year high of 11.1% in May to 10.4% in June. That said, inflation remained well above the upper bound of the Central Bank’s 3.0%–7.0% target range. Lastly, annual average inflation rose from 8.7% in May to 8.9% in June, the highest reading in over three years.