The inflation rose again in October and accelerated to 4.3% year-on-year, according to the Consumer Price Index (CPI) which is prepared monthly by National Institute of Statistics (INE).
In this way, the inflation remains within the target range established by the Central Bank of Uruguay (BCU), despite having increased by 0.63% on a monthly basis, driven mainly by the increase in the prices of fuels.
With respect to Underlying inflation, which excludes fresh fruits and vegetables, and fuels, he INE reported that it grew by 0.43%, in its third consecutive increase, leaving it with an index of 103.80.
To the rise of the naphtha and the gasoil last month, the increase in the value of dollar and the inflation tradable, reaching a CPI of 4.86% so far this year.
The items that rose the most and those that fell the most
When analyzing by category, the transport showed an increase of 2.73%, due to increases in the gasoil (5.48%), the naphtha (3.85%) and plane tickets (2.62%). Added to this is the 26.67% increase in the driver’s license that was generated by the unification of the price at the national level, but with almost no impact.
Prices for housing, water, electricity, gas and others also increased. fuels, powered by update in rentals (0.41%) and supergas, bottle refill (4.19%. Meanwhile, vegetables, tubers and legumes became more expensive by 0.16%, driven by bell peppers (7.09%), zucchini and zucchini (15.14%), potatoes and baby potatoes (5.11%) and sweet potatoes (12.70%).
On the other hand, there was a decrease in the prices of meat fresh, refrigerated or frozen, with a decrease of 1.53%, among which the decreases in buttock (2.14%), minced meat (2.87%) and strip roast (2.23) stood out.
The increase in inflation, in line with expectations
The 0.63% increase in inflation between October and September was in line with what was expected by the analysts consulted by the BCU in their expectations survey, who indicated in their responses a median of 0.60%. The rise in the CPI had been anticipated even by the president of the Central Bank, Diego Labat.
On this point, Labat admitted “some rebound” in the last quarter of the year, because there is “a inflation negative basis.” And he estimated that it will remain around 5.7% over the 24-month horizon, although he anticipated that it will be “always within the range” of between 3% and 6% set by the government.
Source: Ambito
