The Mexican headline inflation rate fell in the first half of June to 5.18%, thanks to the fall in energy and agricultural prices, reported this Thursday the National Institute of Statistics and Geography (Inegi).
The data, below market expectations, implies 10 consecutive fortnights of decline after the 5.84% index for all of May and after starting the year with 7.91% in January.
On the other hand, the statistics institute reported a decrease of 0.02% in the Consumer Price Index (CPI) compared to the previous 15 days.
The Inegi recalled that in the same period of 2022, a year ago, biweekly inflation was 0.49% and annual inflation was 7.88%.
The underlying price index, considered a better parameter to measure general shortages because it eliminates items with high volatility in their prices, increased 0.11% biweekly and 6.91% annually, detailed the Inegi in your report.
While the non-core item decreased by 0.26% at a fortnightly rate, although it rose by 0.03% year-on-year.
Within the underlying subgroup, merchandise increased 0.08% in the fortnight and 8.33% in the year.
While services advanced 0.15% fortnightly and 5.23% annually.
In the non-core, agricultural prices decreased by 0.24% compared to the immediately previous period, but rose 3.19% compared to the same period last year.
The energy and tariffs authorized by the Government were reduced by 0.27% in the fortnight and by 2.60% in the year.
The price index of the minimum consumption basket, made up of 176 products and services, fell 0.06% fortnightly, although it rose 5.18% at the annual rate.
Consumer prices closed in 2022 with a rise of 7.82%, above the 7.36% of 2021, which then was the highest level in the last 20 years.
In contrast, 2020 inflation closed at 3.15%.
The data for the first half of June is disclosed hours before the new monetary policy decision of the Bank of Mexico (Banxico)which last May kept the interest rate at 11.25%, its highest level in history.
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