Inflation hit a nine-month low in September

Latest reading: Consumer prices rose 11.9% in annual terms in September, following a 13.2% increase in the previous month and hitting a nine-month low. That said, inflation remains well above the Central Bank's 5.0% inflation target. Relative to the previous month's data, there were reduced price pressures for food and non-alcoholic beverages (+17.4% yoy vs +20.5% in August), housing, water, electricity, gas and other fuels (+2.3% vs +2.4% in August) plus transportation (+5.8% vs +6.5% in August). Meanwhile, core consumer prices were up 11.0% on a year-on-year basis in September, following a 11.4% increase in the prior month. Lastly, consumer prices rose 0.30% in September in month-on-month terms, following a 0.20% fall in the prior month.

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