Uruguay June consumer prices rise 4.25% y/y; est. +4.40%

Uruguay’s annual inflation rate rose to 4.25% in June 2026, slightly below the estimated 4.40% forecast. This marked a continuation of the country’s inflationary trend, though at a moderated pace compared to earlier in the year. The increase was driven by rising costs in key sectors such as education, healthcare, and housing and utilities, which saw annual price increases of 6.91%, 6.15%, and 5.02%, respectively. Meanwhile, transport costs rose 4.47%, and food and non-alcoholic beverage prices increased 2.21% year-on-year.

On a monthly basis, consumer prices rose 0.70% in June, accelerating from a 0.54% increase in May. This suggests a continued upward pressure on prices in the short term. However, the annual average inflation rate for June came in at 5.2%, down from 5.3% in May, indicating a gradual easing of inflationary pressures.

The trend in inflation has shown a downward trajectory since reaching a peak of 9.1% in 2022, with the 2026 average inflation rate projected to remain below 4.5%. Analysts suggest that while inflation remains above the Central Bank’s lower target range of 3.0–6.0%, the recent moderation signals a potential stabilization in price growth.