Uruguay Inflation May 2022

Consumer prices increased 0.46% from the previous month in May, below April’s 0.49% rise. May’s result marked the weakest reading since December 2021. The moderation was largely due to falling prices for food and non-alcoholic beverages. Moreover, prices for transportation grew at a more subdued pace.

Inflation held steady at April’s 9.4% in May. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 8.2% in May (April: 8.0%).

FocusEconomics analysts see inflation ending 2022 at 8.5%, which is up 0.3 percentage points from the previous month’s forecast. In 2023, our panel sees inflation ending the year at 6.8%.

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