Uruguay Inflation


Inflation eases in October

In October, consumer prices rose 0.82% over the previous month. This figure was below the 1.36% increase recorded in September, but exceeded market expectations of a 0.76% rise. While the print was driven by higher prices across-the-board, prices for clothing and footwear and for recreation and culture rose the most.

Meanwhile, annual inflation edged down from 9.0% in September to 8.7% in October, thus ending four months of consecutive increases. Despite the moderation in the annual reading, inflation remains well above the Central Bank's target range of 4.0%-6.0%.

LatinFocus Consensus Forecast participants expect inflation to moderate to 8.5% by the end of the year, which is unchanged from last month's projection. For 2014, panelists see inflation at 7.5%, which is also unchanged from last month's estimate.


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Uruguay Inflation Chart

Uruguay Inflation October 2013

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

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