Consumer prices in Mexico increased 2.48 percent year-on-year in October of 2015, slightly lower than a 2.52 percent rise in September, hitting a fresh record low for the sixth straight month. The inflation rate has been below the central bank’s 3 percent target since May as sluggish growth and lower telecom and housing related prices have slowed consumer inflation, despite a nearly 12 percent depreciation of the peso against the USD since the beginning of the year.
Year-on-year, cost of education recorded the highest increase (up 4.28 percent from 4.27 percent in September), followed by nonfood prices (up 3.01 percent from 2.78 percent in September), food, drinks and tobacco (up 2.38 percent from 2.25 percent in September) and housing (up 1.99 percent from 2.03 percent in September). Excluding food and energy, the core inflation was 2.47 percent, up from 2.38 percent in the previous month and the highest so far in 2015.
On a monthly basis, consumer prices rose 0.51 percent, up from 0.37 percent in September and the highest figure since November. The biggest upward pressure came from energy cost (up 3.3 percent) and prices of fruits and vegetables (up 0.68 percent). The core index rose at a slower 0.25 percent.
11/9/2015 2:26:59 PM