Mexico: Inflation ticks down further in May
Consumer prices fell 0.16% from a month earlier in May, marking only the second monthly decline in a year and moderating from the 0.34% dip recorded in April. May’s decline was driven by a sharp fall in non-core energy prices. Food prices, on the other hand, rose moderately from a month earlier. Core consumer prices—which exclude volatile categories such as fresh produce and energy—rose 0.26% from a month earlier, faster than April’s 0.15% uptick.
Inflation eased for the fifth consecutive month, falling from 4.6% in April to 4.5%—the lowest print since December 2016 but still slightly above analysts’ expectations. Meanwhile, core inflation was stable from a month earlier at 3.7%.