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 2013 to 2022.
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 increases in October
Inflation came in at 4.3% in October, which was up from September’s 3.9% but well within the Central Bank’s 3.0–6.0% target range. The reading was largely due to increasing price pressures for food and non-alcoholic beverages and housing, and a smaller fall in transport prices. Annual average inflation fell to 6.4% in October (September: 6.8%). Lastly, consumer prices increased 0.63% over the previous month in October, broadly unchanged from the 0.61% increase logged in September. October's figure was the highest reading since April.
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.