Uruguay: Inflation recedes to 15-month low in September
October 6, 2016
In September, consumer prices increased 0.3% over the previous month, down from August’s 0.6% rise. September’s print marked a nine-month low and undershot the 0.6% price increase expected in the Central Bank’s monthly survey. September’s result was mainly driven by higher prices in restaurants and hotels and for clothes and healthcare, according to the Statistical Institute.
Inflation moderated for a fourth consecutive month to a 15-month low of 8.9% in September (August: 9.4%). Inflation has been falling since hitting an over 12-year high in May and yet in September it still remained well above the Central Bank’s target range of 3.0%–7.0%. Annual average inflation inched down from August’s 10.0% to 9.9% in September, the lowest reading in three months.