Mexico: Inflation rises further in September
October 9, 2012
In September, consumer prices added 0.44% over the previous month. The figure was above the 0.30% increase seen in August but a notch below market expectations that had prices rising 0.47%. Non-core prices, in particular agricultural prices, were the main drivers behind the monthly increase. In contrast, core prices - which exclude food and energy - rose the least in five months. As a result, annual headline inflation maintained its upward trend and reached 4.8% in September, which represents its highest level recorded since March 2010. In contrast, annual core inflation inched down from 3.7% in August to 3.6% in September. Despite the recent rise in inflation, the Central Bank expects inflation to fall back to between 3.0% and 4.0% by the end of this year and to remain within this same range by the end of 2013.