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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: Macrobond.

Uruguay Inflation Data

2019 2020 2021 2022 2023
Inflation (CPI, ann. var. %, aop) 7.9 9.8 7.7 9.1 5.9
Inflation (CPI, ann. var. %, eop) 8.8 9.4 8.0 8.3 5.1
Inflation (PPI, ann. var. %, aop) 12.8 10.5 14.4 12.4 -7.5

Inflation comes in at a five-month high in June

Inflation rose to 5.0% in June, above May’s 4.1%. June's figure marked the highest inflation rate since January. Looking at the details of the release, the acceleration chiefly reflected faster price pressures for food and non-alcoholic beverages, and transportation. Meanwhile, the trend was unchanged, with annual average inflation coming in at May's 4.5% in June. Finally, consumer prices increased 0.36% from the previous month in June, a smaller increase than May's 0.40% increase. June's result marked the weakest reading since March.

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 17 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.

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