Mexico: Inflation remains unchanged at record low in June
July 9, 2015
Consumer prices in Mexico increased 0.17% in June over the previous month. The reading contrasted the 0.50% drop registered in May and was virtually in line with the 0.20% rise the markets had expected. The National Statistics Institute (INEGI) pointed out that the monthly increase mainly reflected higher core consumer prices for both products and services.
In June, headline inflation was unchanged at May’s record-low 2.9%, which remained below the Central Bank’s target of 3% Inflation fell below the target in May for first time since November 2005.
Core consumer prices—which exclude volatile categories such as fresh food and energy—added 0.21% in June over the previous month, which came in above the 0.12% increase tallied in May. Annual core in May inflation remained stable at May’s 2.3%.
Author: Ricardo Aceves, Senior Economist