Uruguay Inflation


Inflation continues to accelerate in September

In September, consumer prices increased 1.36% over the previous month, marking the largest monthly increase in eight months. This figure was above the 1.04% rise seen in August and beat market expectations of a 0.85% increase. The reading was largely driven by higher prices for transportation as well as for food and non-alcoholic beverages.

Meanwhile, annual inflation inched up from 8.9% in August to 9.0% in September, marking the highest level in 10 months. As a result, inflation remains well above the Central Bank's target range of 4.0%-6.0%.

LatinFocus Consensus Forecast participants expect inflation to moderate to 8.3% by the end of the year, which is up 0.2 percentage points from last month's projection. For 2014, panelists expect inflation at 7.5%, which is unchanged from last month's estimate.


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Uruguay Inflation Chart

Uruguay Inflation September 2013

Note: Annual and monthly variation of consumer price index in %.
Source: National Statistical Institute (INE).

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