Mexico Inflation


Mexico: Inflation stabilizes in April, stays within Central Bank target

May 7, 2015

Mexico’s consumer prices fell 0.26% over the previous month, which contrasted March’s 0.41% increase and was in line with the 0.24% drop the markets had expected. According to the national statistical institute, the monthly drop in consumer prices was mainly due to lower electricity prices, stemming from the start of summer electricity subsidies.

Annual inflation in April stabilized at March’s 3.1%, consolidating around the Central Bank’s inflation target of 3.0%.

Meanwhile, core consumer prices—which exclude volatile categories such as fresh food and energy—rose 0.16% in April over the previous month, which came in below the 0.26% fall tallied in March. Annual core inflation inched down from 2.4% in March to 2.3% in April.

In February, the Central Bank (Banxico) stated that it expects inflation to end 2015 below 3.0%, amid slack in domestic demand. For 2016, the Central Bank sees inflation converging to around 3.0%. LatinFocus Consensus Forecast panelists expect inflation to end 2015 at 3.5%, which is unchanged over last month’s forecast. For 2016, the panel sees year-end inflation at 3.3%.

Author:, Senior Economist

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Mexico Inflation Chart

Mexico Inflation April 2015

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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