Mexico: Inflation ticks down in July
August 8, 2019
Consumer prices rose 0.38% from a month earlier in July, following the 0.06% month-on-month increase in June. According to the Statistical Institute (INEGI), July’s reading largely reflected stronger price increases for food and non-alcoholic beverages, and transport.
Inflation inched down from 3.9% in June to 3.8% in July, thus remaining within Banxico’s target range of 3.0% plus or minus 1.0 percentage point. Meanwhile, annual average inflation ticked down to 4.4% in July from 4.5% the previous month.
Core consumer prices rose 0.26% over the previous month in July, following June’s 0.30% increase. For its part, core inflation held steady at June’s 3.8% in July.
Author: Javier Colato, Economist