Uruguay: Inflation jumps to 13-month low in October
Consumer prices rose 0.8% from a month earlier in October, accelerating from September’s 0.5% increase. A breakdown of the sub-components provided by the Statistical Institute showed that 11 of the 12 sub-components saw an increase in prices, led by higher prices for food and non-alcoholic beverages, and clothing and footwear.
Meanwhile, inflation jumped to 8.3% in October, from 7.6% in September, marking the strongest increase since September 2018. As a result, inflation moved further above the upper bound of the Central Bank’s 3.0%–7.0% target range. That said, annual average inflation remained stable at 7.8% in October, where it has been since July.