Inflation came in at 4.1% in September, which was up from August’s 3.8%. Looking at the details of the release, prices for transportation grew at a weaker pace in September, although prices for food and non-alcoholic beverages grew. Meanwhile, clothing and footwear prices declined at a milder pace.
The trend pointed up, with annual average inflation coming in at 3.0% in September (August: 2.7%).
Finally, consumer prices rose 0.36% in September over the previous month, picking up from the 0.03% rise seen in August.
FocusEconomics panelists see inflation ending 2022 at 4.0%, which is up 0.2 percentage points from last month’s forecast. For 2023, they project year-end inflation at 2.0%.
