Financial News: Mexican Inflation Rises To 4.65%

Mexican Inflation Rises To 4.65%

05/09/2024 - 09:02:00 (RTTNews)

(RTTNews) - Mexico's consumer price inflation accelerated somewhat in April to the highest level in three months, data from the National Institute of Statistics and Geography, or INEGI, showed on Thursday.

The consumer price index climbed 4.65 percent year-on-year in April, following a 4.42 percent rise in March. The expected increase was 4.63 percent.

Moreover, the inflation rate remained above the central bank's upper target range of 4.0 percent.

Data showed that core inflation eased to 4.37 percent in April from 4.55 percent a month ago. That was also slower than the expected rate of 4.40 percent.

Prices for food and non-alcoholic beverages alone grew by 5.78 percent in April, faster than the 4.96 percent gain a month ago.

Costs for housing and utilities increased 3.76 percent from last year versus a 3.35 percent rise a month ago.

On a monthly basis, consumer prices increased by 0.20 percent in March, after a 0.29 percent rise in the prior month. Economists had forecast a 0.19 percent gain. Core inflation eased to 0.21 percent from 0.44 percent.

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