Mexico: Inflation comes in at highest level since December 2017 in April
Consumer prices increased 0.33% in April over the previous month, moderating from March’s 0.83% increase. April’s result marked the softest rise in prices since November 2020. Looking at the details of the release, prices for food, beverages and tobacco rose in April. In contrast, prices for housing dropped after growing in the previous month. In addition, prices for education and recreation grew at a more subdued pace.
Inflation came in at 6.1% in April, which was up from March’s 4.7%. April’s result represented the highest inflation rate since December 2017, but was partially due to a fuel-price-driven base effect. Annual average inflation rose to 3.9% in April (March: 3.5%). Core inflation was steady, coming in at March’s 4.1% in April.