Uruguay Inflation Slows Further in January

Uruguay’s annual inflation eased to 3.11% in February 2026 from 3.46% in January, the lowest rate since January 1939. Price increases slowed across most categories: food and non-alcoholic beverages (4.32% vs 4.66%), alcoholic beverages and tobacco (3.74% vs 3.80%), housing and utilities (5.01% vs 5.37%), healthcare (5.64% vs 6.30%), recreation, sport and culture (2.49% vs 3.00%), education (5.85% vs 7.13%), and insurance and financial services (2.47% vs 2.98%). Deflation deepened in clothing and footwear (-3.86% vs -3.34%) and transport (-3.58% vs -3.48%). Prices rose faster in furniture and household appliances (1.01% vs 0.91%), information and communication (3.53% vs 3.39%), and personal expenses (5.74% vs 5.05%). On a monthly basis, consumer prices rose 0.35% after a 0.90% increase in January.

Uruguay’s annual inflation eased to 3.46% in January 2026 from 3.65% in December, the lowest level since August 2005. Prices fell further in clothing and footwear (-3.3% vs -2.6%) and transport (-3.5% vs -1.4%). Inflation also slowed for alcoholic beverages and tobacco (3.8% vs 4.1%), furniture and household articles (0.9% vs 1.4%), and healthcare (1.7% vs 5.4%). On a monthly basis, consumer prices rose 0.9%, rebounding from a 0.1% decline in the previous month.

Uruguay’s annual inflation eased to 3.65% in December 2025, down from 4.09% in November and marking the lowest rate since August 2005. Deflation deepened in clothing and footwear (-2.6% vs -2.2%) and transport (-1.4% vs -0.3%). Price increases slowed for food and non-alcoholic beverages (4.47% vs 5.2%) and furniture and household articles (1.4% vs 2.0%). On a monthly basis, the CPI fell 0.10%, reversing a 0.14% increase in November.