Inflation fell in September and stands at 5.32% in 12 months, still within the target range
According to economist Aldo Lema, the monthly measurement of 0.37% is “in line with market expectations.”
Inflation in Uruguay decreased in September to 5.32% in the interannual measurement and remains within the target range of the Central Bank (BCU), according to official data published yesterday Thursday.
The consumer price index (CPI) last month had a variation of 0.37% compared to August, 4.42% so far this year, and 5.32% in the last 12 months, reported the National Institute of Statistics (INE).
This is the first month that the indicator has dropped after four consecutive upward measurements, according to the organization’s records.
In this way, inflation remains within the margins of 3 to 6% per year set by the BCU, a range it entered in June 2023 when it stood at 5.98% for 12 months.
In the monthly variation of September, the main items that drove prices up were food and non-alcoholic beverages; restaurants and accommodation services, and insurance and financial services, indicated the INE.
Economist Aldo Lema, partner at Vixion Consultores, said that the inflation of 0.37% in September compared to August is “in line with market expectations.” Regarding the interannual variation, he indicated that “predictably moderation resumed to 5.3%.”
“Inflation in Uruguay has not only accumulated 16 months within the tolerance range, but it has also not presented any major surprises in recent times. The relapse in September would be accentuated towards the target of 4.5% in these next 2 quarters,” commented the economist.
Meanwhile, core inflation had a monthly variation of 0.34%, an accumulated variation so far this year of 4.08% and one in the last 12 months of 4.66%.
