Mexico Inflation Rate Slows to 5-Month Low of 4.72%
The annual inflation rate in Mexico decreased to 4.72 percent in November 2018 from 4.90 percent in the previous month but above market expectations of 4.63 percent. It is the lowest inflation rate since June, amid slowing prices of energy and food, beverages & tobacco.
Year-on-year, prices increased less for energy (13.26 percent vs 17.10 percent in October); food, beverages & tobacco (4.79 percent vs 4.84 percent) and other services including restaurants, telephone services, medical services and package tourist services (3.98 percent vs 4.30 percent). Meantime, inflation was steady for education (at 4.69 percent) while it edged up for housing & utilities (2.60 percent vs 2.59 percent). Agricultural prices were also higher (4.78 percent vs 2.43 percent), as cost advanced significantly for both fruit (6.02 percent vs 2.06 percent) and livestock (3.15 percent vs 2.52 percent).
On a monthly basis, consumer prices inched up 0.85 percent, following a 0.52 percent rise in October and beating market consensus of a 0.77 percent gain. Main upward pressure came from prices of electricity (23.39 percent vs 17.82 percent), as summertime residential subsidies ended in a number of cities; and agricultural products (3.48 percent vs -0.70 percent), including fruit (6.87 percent vs -1.21 percent) and livestock products (0.68 percent vs -0.28 percent). Conversely, cost decreased for domestic gas (-4.50 percent vs 0.90 percent).
The core index, which strips out some volatile food and energy prices increased by 0.25 percent during the month (vs 0.31 percent in October) and went up by 3.63 percent on a yearly basis (vs 3.73 percent in October).
12/7/2018 2:56:05 PM