Mexico: Inflation remains stable in December
Inflation came in at 7.8% in December, unchanged from Novembers result but still well above the Central Banks 2.0%–4.0% target range. Looking at the details of the release, prices for food and housing increased at a quicker pace in December and prices for housing increased. In contrast, transportation prices increased at a weaker pace, in line with a pullback in global crude oil prices.
The trend was unchanged, with annual average inflation coming in at November’s 7.9% in December. Meanwhile, core inflation edged down to 8.3% in December, from the previous month’s 8.5%.
Finally, consumer prices increased 0.38% over the previous month in December, moderating from the 0.58% rise logged in November. December’s result marked the weakest reading since May.