2023-04-24 15:00:00
The Mexico inflation slowed down in early april more or less in line with economists’ expectations, while the central bank andvalue ending a cycle record adjustment in the second largest economy in Latin America.
Consumer prices rose 6.24% in The first fortnight of the month compared to the same period of the previous year, below 6.58% at the end of March, reported Monday the National Institute of Statistics and Geography (INEGI). The index came in just below the median estimate of economists surveyed by Bloomberg, of a 6,25%.
Mexico’s inflation slows more than expected
Core inflation, which includes volatile items such as fuel and food, slowed to 7.75% per yearless than the previous reading, of 8,03%and just below the median of the estimates, of 7,76%.
The reading for all of March, which was reported in early April, showed that inflation had slowed al 6,85%as it continued to slow down from its peak of 8,7%reached in the third quarter of 2022.
The underlying reading, that has remained high more persistentlyey has been a focus of concern for those in charge of monetary policy, it slowed down to 8.09% last month compared to the 8.29% in Februaryor, after reaching a maximum of 8.51% in November.
Banxico, as the central bank is known, has increased its reference rate by 725 basis points from June 2021 and has recently taken steps more aggressive than other banks with goals inflation in Latin America.
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