inflation general Mexico It fell slightly more than expected in September, although it remained above the official target, supporting prospects that the central bank will continue to keep its key rate at current levels.
The national consumer price index slowed to 4.45% year over year, declining for the eighth month in a row and reaching levels not seen since February 2021, according to data released Monday by the agency. National Institute of Statistics and Geography (Inegi).
This figure was slightly lower than the forecast of 4.47%, which was estimated by the majority of economists surveyed by the news agency. Reuters.
For its part, inflation underlying, Considered a better measure of price path because it excludes high-volatility products, it also fell for the eighth month in a row to 5.76%, matching expectations and the lowest level since November 2021.
Inside, on a monthly basis, prices for goods increased by 0.31%, and services, 0.43%.
The products that showed the most growth were lemon, with a deviation of 33.79% and carrot, from 25.17%. On the contrary, the greatest decrease was noted press, whose monthly variation decreased by 27.48%, followed by professional servicesfrom -14.61%.
In turn, the price index not underlying Its fluctuations were 0.70% on a monthly basis and 0.60% on an annual basis. At the same time, prices for agricultural products increased by 0.84%, and prices and tariffs for energy resources approved by the government – by 0.57%.
You might be interested > Nobel Prize in Economics 2023 to Claudia Goldin for her research on the women’s labor market
Finally, the price index of the minimum consumer basket (IPCCM) increased by 0.63% over the month and by 4.01% over the year. For the same period in 2022, the corresponding figures were 0.77 and 9.60%, in that order.
Last month, Bank of Mexico (Banxico) kept the benchmark interest rate at a historic high of 11.25% for the fourth time in a row, citing a challenging and uncertain inflation outlook, and delayed convergence with the 3% target until the second quarter of 2025.
(according to Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
