The year-on-year inflation rate in Mexico has been accelerating for three consecutive months. The pressures arise mainly from prices in the non-core component (agricultural and energy).
During May 2024, the year-on-year inflation rate in Mexico stood at 4.69%; this level represents three consecutive months of increases.
This range also shows that the inflation target set by the Bank of Mexico (3% +/- one percentage point) is still far away.
The National Consumer Price Index (INPC) showed pressures mainly in the non-core component, which includes agricultural and energy products.
In the breakdown of products and services, it is observed that in this fifth month of the year, what rose the most were fruits and vegetables, tomatoes, some types of chili, oranges and avocados.
Own housing and air transport (flights) also registered price increases.
On the other hand, electricity was one of the services that registered price decreases; this is due to the start of special summer rates in some cities in the country.
Source: eleconomista
