Mexico: Inflation falls to over three-year low in December
Consumer prices rose 0.56% from the previous month in December, following the 0.81% month-on-month increase logged in November. According to the Statistical Institute (INEGI), December’s reading largely reflected higher prices for food and non-alcoholic beverages.
Inflation dipped from 3.0% in November to 2.8% in December, the lowest reading since August 2016 and landing below the midpoint of Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation edged down to 3.6% in December from 3.8% in the previous month.
Core consumer prices, which exclude volatile food and energy prices, rose 0.41% over the previous month in December, up from October’s 0.22% increase. For its part, core inflation inched down to 3.6% from 3.7% in November.