Financial News: Mexico Inflation Remains Broadly Stable At 4.42%

Mexico Inflation Remains Broadly Stable At 4.42%

04/09/2024 - 09:11:00 (RTTNews)

(RTTNews) - Mexico's consumer price inflation was almost stable in March after easing in the previous month, data from the National Institute of Statistics and Geography, or INEGI, showed on Tuesday.

The consumer price index climbed 4.42 percent year-on-year in March, following a 4.40 percent rise in February. The expected increase was 4.50 percent.

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

Data showed that core inflation eased somewhat to 4.55 percent in March from 4.64 percent a month ago. That was also slower than the expected rate of 4.62 percent.

Prices for food and non-alcoholic beverages alone grew by 4.96 percent in March, compared to a 5.07 percent gain a month ago.

Health costs were 5.19 percent higher compared to last year, and transportation costs moved up by 4.16 percent.

On a monthly basis, consumer prices increased by 0.29 percent in March, after a 0.09 percent rise in the prior month. Economists had forecast a 0.36 percent gain. Core inflation eased to 0.44 percent from 0.49 percent.

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