Mexico Inflation July 2018

Mexico

Mexico: Inflation hits four-month high in July

August 9, 2018

Consumer prices increased 0.54% from a month earlier in July, on the heels of their 0.39% month-on-month climb in June. July’s rise was driven by a sharp increase in non-core fresh produce and energy prices, while prices for food and services rose only moderately. Core consumer prices—which exclude volatile categories such as fresh produce and energy—rose 0.29% month-on-month, accelerating from June’s 0.23% uptick.

Inflation rose in July, climbing to 4.8% from 4.6% in June on higher energy costs. Market analysts had expected as much. Meanwhile, core inflation was stable from a month earlier at 3.6%.

Banxico expects inflation to moderate in the second half of the year and end 2018 at 3.8%. Moreover, Banxico expects inflation to end 2019 at 3.1%. Panelists surveyed by FocusEconomics expect inflation to end 2018 at 4.0%, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees year-end inflation at 3.6%.


Author:, Economist

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Mexico Inflation July 2018

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


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