Mexico: Inflation rises again in June
July 12, 2012
In June, consumer prices increased 0.46% over the previous month. The figure contrasted the 0.32% decline observed in May and was a notch above market expectations that had consumer prices adding 0.43%. The strong monthly reading was mostly due to higher agricultural prices, which reflected a 51.4% increase in tomato prices. Owing to the strong monthly reading, annual headline inflation rose for a second month in a row, climbing from 3.9% in May to 4.3% in June. In contrast, annual core inflation - which excludes food and energy prices - remained unchanged at May's 3.5%. In its latest inflation report from May, the Central Bank expects inflation to remain between 3.0% and 4.0% both this year and next.