Uruguay: Inflation dips in October
November 5, 2018
Consumer prices increased 0.2% from a month earlier in October, a few notches slower than September’s 0.5% month-on-month rise. According to data released by the Statistical Institute, October’s reading was driven by a jump in clothing and footwear prices, as well as higher household costs. Food prices, on the other hand, fell considerably from September.
Inflation fell to 8.0% from 8.3% in September, still outside the Central Bank’s 3.0%–7.0% target. Pass-through pressures from the weak peso have contributed to the elevated inflation readings in recent months.
Meanwhile, annual average inflation rose to 7.4% from 7.2% in September, reaching a 16-month high.