Inflation in Uruguay stood at 5.1% in the moving year ending in February, surpassing the 5.05% of January, and completed 21 consecutive months within the official target range (3-6%), according to the National Institute of Statistics (INE).
In February, the Consumer Price Index (CPI) showed a monthly increase of 0.69%, extending the longest period in history within the Central Bank of Uruguay (BCU) target range. So far in the first two months of 2025, it has accumulated an increase of 1.80%.
The greatest impacts on the indicator during the second month of the year came from the categories Food and non-alcoholic beverages (0.26%), Housing, water, and electricity (2.84%) and Furniture and Household Equipment (1.10%).
In the latest Expectations Survey conducted monthly by the BCU, analysts forecasted an average inflation of 5.80% for the year 2025 and 1.0% for February.
Inflation in Uruguay closed the year 2024 at 5.49%, thus completing its second consecutive year within the official target range. Since the second half of 2023, inflation has been recording the lowest values since 2005, being one of the highlighted economic achievements of the outgoing government of President Luis Lacalle Pou, according to the Xinhua news agency.
At the beginning of February, the BCU decided to raise the Monetary Policy Rate (TPM) by 25 basis points to 9.0%, from 8.75% in December, with the aim that inflation and expectations 'converge' on the target of 4.5% per year over 24 months.
