Mexico Inflation Rate Quickens to 4.4% in April
The annual inflation rate in Mexico increased to 4.4 percent in April 2019 from 4.0 percent in the previous month, matching market expectations. It is the highest inflation rate since January, mainly due to rising prices over Easter linked to travel and tourism. Also, food, beverages & tobacco and agricultural goods were much more expensive.
Year-on-year, inflation accelerated for other services including restaurants, telephone services, medical services and package tourist services (4.98 percent vs 3.79 percent in March) mainly attributable to increased turism over Easter; food, beverages & tobacco (4.75 percent vs 3.56 percent); agricultural goods (4.77 percent vs 3.70 percent), namely fruits & vegetables (10.19 percent vs 9.6 percent) and livestock goods (1.38 percent vs -0.21 percent); energy (8.58 percent vs 8.15 percent) and housing (2.78 percent vs 2.68 percent). At the same time, prices advanced at the same pace for education (4.84 percent).
On a monthly basis, consumer prices went up 0.05 percent, easing from a 0.39 percent rise in March and slightly below market expectations of a 0.06 percent gain. Prices fell for energy (-3.32 percent vs 1.78 percent) while they rose for food, beverages & tobacco (0.40 percent vs 0.38 percent); agricultural goods (0.63 percent vs -0.67 percent) and housing (0.31 percent vs 0.30 percent).
The core index, which strips out some volatile food and energy prices increased by 0.46 percent month-over-month (vs 0.34 percent vs March) and by 3.87 percent over the previous year (vs 3.55 percent in March).
5/9/2019 3:32:35 PM