Mexico: Inflation bounces back from over four-year low in May
Consumer prices rose 0.38% in May over the last month, contrasting the 1.01% drop logged in April. The result was largely due to a strong rebound in transport prices and a pick-up in prices for food and non-alcoholic beverages.
Inflation came in at 2.8% in May, above April’s 2.1% which had marked an over four-year low. Thus, it rose further towards the midpoint of Banxico’s target range of 2.0%–4.0%. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 3.2% in May (April: 3.3%). Core inflation ticked up to 3.6% from 3.5% in the previous month.