Uruguay’s year-on-year inflation was at its lowest level in 5 years

Inflation in Uruguay fell to 5.98% year-on-year, which represents its lowest level in 5 years and remains within the range of the official goal, as reported this Wednesday by the National Institute of Statistics (INE).

The Consumer Price Index (CPI) fell 0.46% in June compared to Mayand registers an accumulated variation so far this year of 3.78%.

The decrease in the CPI for June responds especially to the transport category (-1.60%) and food and non-alcoholic beverages (-0.31%), within which the drop in the prices of vegetables and legumes (- 8.38%) and that of fruits and nuts (-7.40%).

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In contrast, the prices of housing, water, electricity, gas and other fuels (+0.37) were the ones that grew the most.

Meanwhile, in the last 12 months, the item that had the greatest incidence on inflation was food and non-alcoholic drinksthat became expensive 10.22%followed by restaurants and accommodation services (+9.39%).

In this way, inflation of 5.98% year-on-year is located within the target range of the Central Bank of Uruguay, set between 3% and 6% annually.