Economy & Business - November 2023

URUGUAY | Inflation ticks up. After falling below 4% for the first time in over 20 years in September, Uruguay’s 12-month inflation rate ticked up again in October, according to figures released by the national statistics institute (INE) on 3 November. Inflation grew 0.63% in October, bringing the 12-month rate to 4.30%. This is within the 3%-6% target range set by the government. A 2.73% increase in transport costs and 0.43% increase in costs in the housing and utilities segment drove October inflation. Year-to-date inflation for the month stands at 3.86%.