Mexico: Inflation climbs in June
July 9, 2020
Consumer prices rose 0.55% in June over the previous month, following the 0.38% increase logged in May. The result was largely driven by a strong rebound in prices for clothing and footwear, and housing and utilities.
Inflation came in at 3.3% in June, which was above May’s 2.8%. Thus, it moved above 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 3.1% in June (May: 3.2%). For its part, core inflation ticked up to 3.7% from 3.6% in the previous month.
Author: Javier Colato, Economist