UPDATE 1-Uruguay says July inflation 1.21 percent m/m

miércoles 5 de agosto de 2015 13:43 GYT

(Adds inflation rate for seven months to July, background)

MONTEVIDEO Aug 5 (Reuters) - Consumer prices in Uruguay rose 1.21 percent in July, official data showed on Wednesday, surpassing market expectations and lifting the year-on-year inflation rate to 9.02 percent.

A central bank poll of analysts had forecast a July rate of 0.85 percent.

With inflation sitting uncomfortably above the government's 7 percent target range, the economy ministry last week announced a price freeze on 1,600 goods.

Economy Minister Danilo Astori said at the time that the move, which came as the local currency weakened, was designed to achieve "a significant slowdown in price increases."

The government last agreed with unions and retailers to freeze prices in March 2014 when inflation was 9.82 percent.

Consumer prices in the South American country have climbed 6.91 percent in the seven months to July. (Reporting by Malena Castaldi; Writing by Richard Lough; Editing by David Gregorio)