Inflation in Uruguay
Uruguay - Inflation
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.
Panelists participating in this month’s LatinFocus Consensus Forecast project inflation to end 2020 at 9.0%, which is down 0.4 percentage points, and 2021 at 7.3%.
Uruguay - Inflation Data
|Inflation Rate (CPI, annual variation in %)||8.7||9.6||6.2||7.6||7.9|
5 years of economic forecasts for more than 30 economic indicators.
Uruguay Inflation Chart
Source: Central Bank of Uruguay and FocusEconomics calculations.
|Exchange Rate||37.33||0.24 %||Jan 01|
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July 6, 2020
Consumer prices were unchanged from a month earlier in June, following the 0.6% increase recorded in May.
June 26, 2020
At its 25 June monetary policy meeting, the Central Bank of Uruguay increased its target for the growth rate of the M1+ money supply in Q3 2020 to 7.0%–10.0%, from the previous quarter’s target of 3.0%–5.0%.
June 22, 2020
The economy slumped 1.4% year-on-year in the first quarter of 2020, after expanding 0.2% in the fourth quarter of last year, recording the worst contraction since Q2 2003.
June 11, 2020
Industrial production nosedived 19.3% year-on-year in April (March: +4.7% yoy).
June 5, 2020
Consumer prices increased 0.6% from a month earlier in May, decelerating from the 2.0% jump recorded in April.