Uruguay: Inflation eases in October
November 4, 2013
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.