Mexico Inflation Rate Hits 6-Month High of 5.02%

The annual inflation rate in Mexico rose to 5.02 percent in September 2018 from 4.9 percent in August and slightly above market expectations of 5.01 percent. It was the highest inflation rate since March, as prices continued to climb especially for energy and food, beverages & tobacco. On the other hand, cost eased for education.

Year-on-year, prices advanced further for: energy (19.20 percent vs 18.96 percent in August); food, beverages and tobacco (4.80 percent vs 4.55 percent); other services including restaurants, telephone services, medical services and package tourist services (4.09 percent vs 3.81 percent) and housing (2.62 percent vs 2.56 percent). Meanwhile, inflation slowed for education (4.69 percent vs 5.02 percent).

On a monthly basis, consumer prices went up 0.42 percent, following a 0.58 percent gain in August, and slightly above market expectations of 0.41 percent. Prices slowed mostly for gasoline (1.47 percent vs 2.73 percent) and agricultural goods such as onions (7.76 percent vs 42.5 percent) and tomatoes (4.26 percent vs 20.78 percent).

The core index, which strips out some volatile food and energy prices increased by 0.32 percent during the month (0.25 percent in August) and was up by 3.67 percent on a yearly basis (3.63 percent in August).

 Mexico Inflation Rate Hits 6-Month High of 5.02%

INEGI | Luisa Carvalho |
10/9/2018 1:26:33 PM