Uruguay Inflation Rate Mom

The annual inflation rate in Uruguay slowed to 4.79% in July of 2023 from 5.98% in the prior month. It pointed to the lowest reading since November 2005 in response to the central bank’s aggressive tightening cycle. Costs dropped for transportation (-5.92% vs -4.64% in June) and clothing and footwear (-1.74% vs +0.45%). Meanwhile, prices rose at a slower pace for food and non-alcoholic beverages (7.81% vs 10.22%), housing and utilities (5.77% vs 6.26%), and ). On a monthly basis, consumer prices in Uruguay inched lower by 0.36%, after it fell to 2016 levels low of 0.46% decline in the previous month.