Mexico: Inflation ebbs in July from June
Latest reading: Consumer prices increased 3.1% in annual terms in July, following a 3.4% rise in the prior month. July’s reading was the weakest since May 2020 and well within the Central Bank’s 2.0%–4.0% target range.
Relative to the prior month’s data, there were reduced price pressures for food, beverages and tobacco (+1.8% on a year-on-year basis vs +2.6% in June), housing (+3.1% vs +3.2% in June), transportation (+3.3% vs +3.4% in June), education and recreation (+3.1% vs +3.4% in June) and clothing, footwear and accessories (+1.7% vs +1.8% in June).
Meanwhile, core consumer prices rose 3.9% in annual terms in July, following a 4.0% increase in the prior month.
Lastly, consumer prices rose 0.03% in July on a month-on-month basis, following a 0.27% decline in the previous month.