Latest reading: Consumer prices rose 8.8% on a year-on-year basis in August, following a 9.3% rise in the previous month....
Inflation in Uruguay
Consumer price inflation in Uruguay averaged 7.8% in the ten years to 2024, in line with the Latin America regional average of 10.8%. The 2024 average figure was 4.8%. For more information on inflation, visit our dedicated page.
Uruguay Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Uruguay from 2014 to 2025.
Source: Macrobond.
Uruguay Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 7.7 | 9.1 | 5.9 | 4.8 | 4.6 |
| Inflation (CPI, ann. var. %, eop) | 8.0 | 8.3 | 5.1 | 5.5 | 3.6 |
| Inflation (PPI, ann. var. %, aop) | 14.4 | 12.4 | -7.5 | 3.3 | 7.1 |
Inflation picks up in August from July
Latest reading: Consumer prices rose 4.6% on a year-on-year basis in August, following a 4.3% rise in the prior month. August's reading was the strongest since June 2025, falling slightly above the midpoint of the Central Bank of Uruguay's 3.0–6.0% target range. Relative to the prior month's figures, there were higher price pressures for food and non-alcoholic beverages (+3.1% on a year-on-year basis vs +3.0% in July), housing (+5.1% vs +5.0% in July) and transportation (+7.1% vs +5.8% in July). In contrast, price pressures reduced for clothing and footwear in August (-6.2% vs -5.8% in July). Lastly, consumer prices rose 0.24% in August on a month-on-month basis, following a 0.07% rise in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Uruguayan inflation projections for the next ten years from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Uruguayan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Uruguayan inflation projections.
Want to get access to the full dataset of Uruguayan inflation forecasts? Send an email to info@focus-economics.com.
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