Mexico Inflation Rate Picks Up to 6.6% in November

Consumer prices in Mexico rose 6.63 percent year-on-year in November of 2017, following a 6.37 percent gain in the prior month and slightly above market expectations of 6.3 percent. It was the second straight rise in consumer prices, as cost advanced faster for energy, housing and utilities and food. The central bank expects inflation to stay above the 3-4 percent target in 2017 and to converge to 3 percent by the end of 2018. However, this will highly depend on stability of peso during 2018.

Year-on-year, prices climbed for: energy (17.04 percent vs 16.34 percent in October); housing and utilities (2.68 percent vs 2.65 percent) and food and non-alcoholic beverages (6.84 percent vs 6.73 percent). Meantime, cost increased at the same pace for education (4.74 percent).

On a monthly basis, consumer prices inched up 1.03 percent, after rising 0.63 percent in October and slightly higher than market expectations of 1.01 percent.

The core index, which strips out some volatile food and energy prices went up 0.34 percent during the month and 4.90 percent year-on-year.

Mexico Inflation Rate Picks Up to 6.6% in November

INEGI | Luisa Carvalho |
12/7/2017 3:18:32 PM