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Financial News: Mexico Inflation Eases Less Than Expected In May

Mexico Inflation Eases Less Than Expected In May

06/09/2022 - 10:23:00 (RTTNews)

(RTTNews) - Mexico's consumer price inflation eased for the first time in four months in May, though at a slower than expected pace, data from the National Institute of Statistics and Geography showed on Thursday.

Consumer prices climbed 7.65 percent year-on-year in May, slightly slower than the 7.68 percent rise in April. Economists had forecast inflation to moderate to 7.62 percent.

Core inflation stood at 7.28 percent in April, while the expected rate was 7.24 percent.

Prices for food, beverages and tobacco grew the most, by 11.28 percent annually in May, and costs for goods alone surged 9.53 percent.

On a monthly basis, consumer prices climbed 0.18 percent in May, which was just above the expected rise of 0.15 percent.

Core consumer prices rose 0.59 percent as compared to April, beating economists' forecast for an increase of 0.55 percent.

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