Uruguay: Inflation continues to accelerate in September
October 3, 2013
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.