LatinNews Daily - 05 May 2023

In brief: Monthly inflation edges down in Uruguay

* Uruguay’s national statistics institute (INE) has released the latest consumer price index (IPC), which shows monthly inflation of 0.75% in April, bringing annual inflation to 7.61%. This is slightly down from monthly inflation of 0.9% in March but up from annual inflation of 7.33% last month. On 19 April, Uruguay became the first inflation-targeting country in Latin America to begin lowering borrowing costs, as the central bank (BCU) reduced its benchmark interest rate by 25 basis points to 11.25%.

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