Macroeconomic Forecast Uruguay

BMI View: Headline consumer price inflation in Uruguay fell to 7.1% y-o-y in May this year, down from 7.3% y-o-y in April. On a month-on-month basis prices increased by 0.16% from April, the slowest rate since November 2009. With transport and communication costs set to continue falling we expect a slight downward trend to continue, with inflation breaking back into the central bank's 3-7% y-o-y target range, on course to reach our own 6.1% end-2010 forecast.

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