The Consumer Price Index (CPI) of Uruguay stood at 7.33% in the interannual rate last March, after falling two tenths compared to 7.55% in February, according to figures from the National Institute of Statistics ( INE) of Uruguay.
Inflation has not been at such a low level since July 2021 (when it was also 7.3% year-on-year) and has already accumulated six months of declines. The CPI had not fallen below 8% since November 2021, this being the last month in which it was below this figure.
For their part, prices increased by 0.9% per month, barely one tenth less than in February, when they rose by 1%.
The main incidences, expressed in percentage points over the monthly variation of the index for the month of March, come mainly from the divisions of food and non-alcoholic beverages (0.59, more than February), housing (0.03, less than the month above), education (0.13) and restaurants and accommodation services (0.04).
Given the high inflation, the Central Bank of Uruguay made the decision in February to maintain interest rates at 11.5%, which is one of the highest percentages in the region. The body will meet again in mid-April.