Inflation in Mexico surged to 4.69% during the first half of October, marking a notable shift after five consecutive weeks of decline.
This information comes from the National Institute of Statistics and Geography (INEGI). The Consumer Price Index (CPI) recorded a 0.43% increase compared to the previous fortnight.
This annual rate is slightly above market expectations, which had predicted inflation at 4.67%. This rise represents the first acceleration since mid-July when inflation was reported at 5.61%.
Recent months have shown signs of easing, moving toward the Bank of Mexico‘s (Banxico) target of 3% ± 1 percentage point.
Despite these signs, inflation remains high, with expectations that Banxico will reach its target only next year. Currently, the central bank maintains an interest rate of 10.50%.
The report highlighted that core inflation, which excludes volatile prices, stood at an annual rate of 3.87%. Within this category, goods experienced a price increase of 2.89%, while services rose by 5.03%.
On the other hand, non-core inflation reached an annual growth rate of 7.17% in the first half of October. Specifically, agricultural product prices climbed by 9.66%, and energy costs along with government-approved tariffs increased by 4.69%.
These figures illustrate ongoing pressures on consumers and emphasize the challenges facing economic policymakers in stabilizing prices in the coming months.
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This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error