Mexico: Inflation increases for third successive month in July
August 7, 2020
Consumer prices rose 0.66% in July over the previous month, which was above the 0.55% increase logged in June. The result was largely driven by a strong rebound in prices for food and non-alcoholic beverages.
Inflation rose for the third month running, coming in at 3.6% in July (June: 3.3%). Thus, it moved further above the midpoint of Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at June’s 3.1% in July. For its part, core inflation edged up to 3.9% from 3.7% in the previous month.
Author: Javier Colato, Economist