Uruguay consumer prices up 0.97 pct in May, 11 pct over 12 months

viernes 3 de junio de 2016 13:44 GYT

MONTEVIDEO, June 3 (Reuters) - Consumer prices in Uruguay rose 0.97 percent in May, well above market expectations, the Statistics Office said on Friday, while annual inflation hit 11 percent, the highest 12-month figure since 2003.

The median forecast in a central bank poll of analysts was for a 0.5 percent increase on the month.

Inflation in Uruguay is running well above the government's targeted ceiling of 7 percent on the year. (Reporting by Malena Castaldi; Writing by Julia Symmes Cobb; Editing by Phil Berlowitz)