Will I save money living in Punta del Este?

"Living in Punta del Este can be significantly cheaper than living in the United States. The cost of living in Uruguay is generally lower than in the US, with rent, groceries, and other everyday expenses costing much less. Additionally, the Uruguayan currency, the Uruguayan peso, is weaker than the US dollar, making it even more affordable to live in Uruguay," remarked another expat who made the move to Punta del Este, Uruguay.