MEXICO CITY (EFE).— The Mexican inflation rate rose to 4.42% in March, resuming an upward trend, the National Institute of Statistics and Geography (Inegi) reported yesterday Tuesday.
The data, below market expectations, was higher than the 4.4% reached in February, when the index broke three months of increase.
On the other hand, Inegi reported that the consumer price index (CPI) increased 0.29% in the month.
The statistics institute recalled that in the same month of 2023, monthly inflation was 0.27% and annual inflation was 6.85%.
The underlying price index, considered a better parameter to measure general shortages because it eliminates items with high volatility in their prices, rose 0.44% monthly and 4.55% annually, Inegi detailed in its report.
While the non-core item fell 0.16% at a monthly rate, although it rose 4.03% year-on-year.
Within the underlying subgroup, merchandise increased 0.22% in the month and 3.88% annually.
Meanwhile, services advanced 0.69% monthly and 5.37% annually.
Not underlying
In non-core, agricultural prices fell 0.53% compared to the immediate previous period, but rose 4.92% compared to the same month last year.
Energy prices and rates authorized by the government rose 0.16% in the month and 3.29% in the year.
The price index of the minimum consumption basket, made up of 176 products and services, grew by 0.17% monthly and 4.04% annually.
The items with the greatest year-on-year increases were restaurants and hotels (6.95%), education (6.36%) and miscellaneous goods and services (6.35%).
While the generic products that rose the most in the month were air transport (28.35%), lettuce and cabbage (18.7%), and serrano chili (13.15%).
Consumer prices closed in 2023 with an increase of 4.66% following the rate of 7.82% in 2022, the highest level in 22 years and the century for a year-end.
The March data is published following the Bank of Mexico reduced the interest rate to 11% on March 21, the first cut in a year.
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2024-05-04 10:08:37
