Closing the third quarter of 2025, annual inflation in September rose to 2,65% (YoY), the highest since the beginning of the year. On a monthly basis, the CPI recorded inflation of 0,21% (mtm), reversing from the previous deflation of 0,08% (mtm) in August. In recent years, September has tended to experience monthly deflation, except in 2023, when the adjustment of non-subsidized fuel prices on September 1, 2023, pushed monthly inflation to around 0,15% (mtm). This year, monthly inflation returned, although the trigger was different from 2023. In September 2025, there were no major adjustments to government-regulated prices. Pressure came primarily from volatile food prices, which rose again after easing in August, while core and government-regulated components remained relatively stable.
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