Uruguay: Inflation inches up in October
November 3, 2017
In October, consumer prices grew 0.5% from the previous month, matching September’s month-on-month rise. However, October’s print came in slightly above the Central Bank’s expectations. According to the Statistical Institute, the increase was driven by higher prices for food and non-alcoholic beverages, clothing and footwear, and transport.
Inflation rose for the third consecutive month, inching up from the previous month’s 5.8% to 6.0% in October, the highest reading in six months. Inflation moved closer to the upper limit of the Central Bank’s target of 3.0%–7.0%. Annual average inflation, however, was steady at the prior month’s reading of 6.7% in October.
Author: Jan Lammersen, Economist