Inflation slows in October from the prior month

Latest reading: Consumer prices were up 3.2% on a year-on-year basis in October, coming after a 3.4% rise in the prior month and falling short of the government’s 4.5% target. Relative to the prior month's figures, there were milder price pressures for transportation (0.0% on a year-on-year basis vs +1.5% in September) and housing and construction materials (+6.8% vs +6.9% in September). In contrast, price pressures were slightly higher for food (+2.0% vs +1.9% in September) and education (+3.3% vs +3.2% in September) in October. Lastly, consumer prices rose 0.20% in October on a month-on-month basis, following a 0.42% increase in the previous month.

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