Inflation in Mexico slows down and stands at 8.41% during October
In October 2022, the National Consumer Price Index (INPC) in Mexico registered a variation of 0.57% compared to the previous month. With this result, annual headline inflation stood at 8.41%.
According to data from the National Institute of Statistics and Geography (INEGI), the result of October 2022 means an inflationary slowdown for the country that closed at 8.70% in September; that is, 0.3% more compared to last month.
Read also: Check out our coverage on Mexico
“In the same month of 2021, monthly inflation was 0.84% and annual inflation was 6.24%,” the institute detailed.
The underlying price index -which discards products that present price volatility according to the seasons of the year- increased 0.63% monthly and 8.42% annually.
In the same fortnightly period, the non-core price index rose 0.38% fortnightly and 8.36% at the annual rate.
The INEGI announced that the merchandise and products that most influenced the INPC were zucchini, tomato, electricity, sugar and tortillas.
Tomorrow, November 10, the Bank of Mexico will meet to determine whether or not to raise the interest rate, which has had three consecutive increases of 75 basis points.
With information from Sputnik
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