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Uruguay Inflation

Uruguay Inflation

Inflation in Uruguay

Consumer price inflation in Uruguay averaged 8.4% in the ten years to 2022, in line with the Latin America regional average of 8.4%. The 2022 average figure was 9.1%. For more inflation information, visit our dedicated page.

Uruguay Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Uruguay from 2014 to 2023.
Source: National Statistical Institute Uruguay.

Uruguay Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 7.6 7.9 9.8 7.7 9.1
Inflation (CPI, ann. var. %, eop) 8.0 8.8 9.4 8.0 8.3
Inflation (PPI, ann. var. %, aop) 9.7 12.8 10.5 14.4 12.4

Inflation holds steady in January

Inflation came in at 5.1% in January, matching December’s result. Looking at the details of the release, the change in prices for food and non-alcoholic beverages was largely stable in January while prices for clothing and footwear decreased at a sharper pace. Meanwhile, housing price growth softened. The trend pointed down, with annual average inflation coming in at 5.6% in January (December: 5.9%). Finally, consumer prices increased 1.53% from the previous month in January, swinging from the 0.11% fall seen in December. January's figure marked the highest reading since January 2023.

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 16 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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