The National
Institute of Statistics and Geography (Instituto Nacional de Estadística y
Geografía, INEGI) announced on Tuesday that Mexico’s consumer price index (CPI)
rose 0.29 per cent m-o-m in March after a 0.09 per cent m-o-m uptick in the
previous month. That marked the tenth straight monthly gain in CPI.
On a y-o-y
basis, CPI surged 4.42 per cent in March, slightly quickening from 4.40 per
cent in February.
Economists
had forecast advances of 0.36 per cent m-o-m and 4.50 per cent y-o-y for March.
Meanwhile, the
core annual inflation slowed to 4.55 per cent in March from 4.64 per cent y-o-y
in the previous month. That represented the lowest rate since May 2021 (+4.37
per cent). Economists had expected the indicator to slip to 4.62 per cent
y-o-y.
On m-o-m basis,
the core inflation increased 0.44 per cent in March, following a 0.49 per cent gain
in February, below economists’ prediction for a 0.51 per cent rise.