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Financial News: Mexico's Inflation Rises Slightly To 7.82%

Mexico's Inflation Rises Slightly To 7.82%

01/09/2023 - 09:11:00 (RTTNews)

(RTTNews) - Mexico's consumer price inflation rose less-than-expected at the end of the year from a 6-month low in November, data from the National Institute of Statistics and Geography showed on Monday.

Consumer prices climbed 7.82 percent year-on-year in December, following a 7.80 percent rise in November. Economists had forecast inflation to rise to 7.86 percent.

Meanwhile, core inflation eased to 8.35 percent in December from 8.51 percent a month ago. The expected rate was 8.36 percent.

Prices for food and non-alcoholic beverages alone grew 12.70 percent annually in December, slightly above the 12.41 percent spike in November. Costs for miscellaneous goods and services registered an increase of 10.40 percent.

On a monthly basis, consumer prices moved up 0.38 percent in December, after a 0.58 percent increase in November. Economists had forecast a 0.43 percent rise.

Core consumer prices increased 0.65 percent in December, in line with expectations.

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