Mexico: Inflation dips in May
Consumer prices increased 0.20% over the previous month in May, coming in below April’s 0.33% rise. May’s result marked the softest rise in prices since November 2020. The reading was driven in part by softer growth in prices for food, beverages and tobacco. In addition, price pressures for housing fell at a sharper rate.
Inflation ticked down to 5.9% in May, from April’s 6.1%, but remained above the Central Bank’s 2.0%–4.0% target range. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 4.1% in May (April: 3.9%). Lastly, core inflation rose to 4.4% in May, from the previous month’s 4.1%.