Mexico: Inflation comes in at highest level since November 2024 in May
Latest reading: Inflation came in at 4.4% in May, up from April’s 3.9%. May’s result represented the highest inflation rate since November 2024 and was above the Central Bank’s 2.0%–4.0% target range. Looking at the details of the release, prices for food and housing increased at a quicker rate in May. Meanwhile, transportation prices grew at a softer pace.
The trend was unchanged, with annual average inflation coming in at April’s 4.4% in May. Meanwhile, core inflation ticked up to 4.1% in May from the previous month’s 3.9%.
Finally, consumer prices rose 0.28% over the previous month in May, which was below April’s 0.33% increase. May’s result marked the weakest reading since February.