Inflation picks up in September from the prior month

Latest reading: Consumer prices increased 3.4% on a year-on-year basis in September, following a 3.2% increase in the previous month. September’s reading marked the second consecutive acceleration, but remained below the government’s 4.0–4.5% inflation target. Relative to the prior month's data, there were higher price pressures for transportation (+1.5% in annual terms vs -1.9% in August) and education (+2.2% vs +0.2% in August). In contrast, there were milder price pressures for food (+1.9% vs +2.5% in August) and housing and construction materials (+6.9% vs +7.0% in August). Finally, consumer prices increased 0.42% in September on a month-on-month basis, following a flat reading in the previous month.

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