Mexico: Inflation falls to its lowest level in more than a year
February 7, 2013
In January, consumer prices added 0.40% over the previous month. The reading came in above both the 0.23% increase recorded in December and market expectations, which had prices adding 0.33%. Core consumer prices - which exclude volatile agricultural prices as well as energy and other government regulated tariffs - rose 0.42%, whereas non-core prices increased a milder 0.33%, mostly reflecting a drop in fruit and vegetable prices.
Despite the higher-than-expected reading, annual headline inflation maintained its downward trend, dropping from 3.6% in December to 3.3% in January. The figure represents the lowest inflation rate since October 2011. Annual core inflation, in contrast, remained unchanged at 2.9%.