Uruguay says January inflation 2.45 pct on previous month

MONTEVIDEO, Feb 3 (Reuters) - Consumer prices in Uruguay rose 2.45 percent in January compared with the previous month, official data showed on Wednesday, fractionally higher that the median forecast in a central bank poll of economists.

The central bank forecast was for an increase of a 2.40 percent increase in prices.

The increase in the consumer price index was driven by an increase in electricity, water and telephone rates early last month. It left the year-on-year inflation rate at 9.68 percent, above the bank’s target ceiling of 7 percent.

Uruguay posted an inflation rate of 9.44 percent in 2015, fueled by the strong weakening of the Uruguayan peso against the dollar during the year. (Writing by Richard Lough; Editing by Chizu Nomiyama)