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Mexico Inflation July 2023

Mexico: Inflation declines to lowest level since March 2021 in July

Inflation came in at 4.8% in July, down from June’s 5.1% and in line with market expectations. July’s figure represented the weakest inflation rate since March 2021, but was still somewhat above the Central Bank’s 2.0%–4.0% target range. Looking at the details of the release, prices for food, beverages and tobacco rose at a more moderate pace in July, while prices for housing dropped at a faster rate.

In addition, the trend pointed down, with annual average inflation coming in at 7.1% in July (June: 7.4%). Meanwhile, core inflation fell to 6.6% in July from the previous month’s 6.9%.

Finally, consumer prices rose 0.48% from the previous month in July, picking up from the 0.10% rise logged in June.

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