Mexico Inflation May 2021


Mexico: Inflation dips in May

June 9, 2021

Consumer prices increased 0.20% over the previous month in May, coming in below April's 0.33% rise. May's result marked the softest rise in prices since November 2020. The reading was driven in part by softer growth in prices for food, beverages and tobacco. In addition, price pressures for housing fell at a sharper rate.

Inflation ticked down to 5.9% in May, from April’s 6.1%, but remained above the Central Bank’s 2.0%–4.0% target range. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 4.1% in May (April: 3.9%). Lastly, core inflation rose to 4.4% in May, from the previous month's 4.1%.

Panelists surveyed by FocusEconomics see inflation ending 2021 at 4.3%, which is up 0.3 percentage points from last month’s forecast. For 2022, the panel sees year-end inflation at 3.6%.


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Mexico Inflation Chart

Mexico Inflation May 2021 0

Note: Month-on-month and year-on-year changes of consumer price index (CPI) in %.
Source: Mexico National Statistics Institute (INEGI) and FocusEconomics calculations.

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