Sept. 29 (Bloomberg) -- Uruguay’s inflation rate, which was 7.57 percent in August, will continue falling until the end of the year, Economy Minister Fernando Lorenzo told reporters in Montevideo.

“We have to act with caution because inflation is still a point and a half above the upper limit of the target range,” Lorenzo said ahead of today’s quarterly interest-rate decision.

To contact the reporter on this story: Lucia Baldomir in Montevideo at lbaldomir@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net