Uruguay’s Inflation Rate Falls Below Expectations in November

Uruguay’s Consumer Price Index (CPI) rose by 0.34% in November, lower than anticipated by analysts.

This aur set the year-on-year inflation rate at 4.96%, comparing November 2023 to November 2022 data.

From January to November 2023, the cumulative inflation stands at 5.04%, highlighting a gradual increase over the year.

This modest rise in the CPI was below market predictions, which had estimated a 0.4% increase.

The most significant contributions to the CPI came from various sectors.

Furniture, household goods, and regular home articles contributed 0.06 percentage points to the increase.

The transportation sector added 0.10 percentage points. Recreation, sports, and culture contributed 0.05 percentage points, showing diverse influences on the overall inflation rate.

There was a slight increase of 0.07% in the food and non-alcoholic beverage category. Specific changes within this category were notable.

Meat and derivative products saw a decrease of 0.17%, with significant price drops in specific meats like needle meat and sheep meat.

Fruits and nuts experienced a rise of 2.90%, led by increases in the prices of oranges, mandarins, and apples, while peach prices saw a notable decrease.

Vegetables, tubers, and legumes showed an overall decrease of 0.07%.

This category had varied changes, with significant price drops in bell peppers, tomatoes, squashes, carrots, and onions.

However, prices for potatoes and small potatoes went up considerably.

These detailed changes across various food categories illustrate the complex factors contributing to Uruguay’s overall inflation dynamics.