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Mexico Inflation March 2023

Mexico: Inflation falls to over one-year low in March

Inflation eased to 6.8% in March from February’s 7.6%. March’s figure represented the lowest inflation rate since October 2021, and was below market expectations. However, inflation is still well above the Central Bank’s 2.0%–4.0% target range. The result was driven by moderating price pressures for food, beverages and tobacco and transportation.

Accordingly, the trend pointed down slightly, with annual average inflation coming in at 7.9% in March (February: 8.0%). Meanwhile, core inflation edged down to 8.1% in March, from February’s 8.3%.

Lastly, consumer prices increased 0.27% from the previous month in March, slowing down from the 0.56% increase seen in February. March’s result marked the weakest reading since May 2022.

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