The general inflation rate decreased in Mexico to 4.45% annually in Septemberits lowest level since February 2021, the National Institute of Statistics and Geography (Inegi) reported this Monday.
The data, within market expectations, It represents eight consecutive months of decline after the 4.64% rate in August and after having started the year with the 7.91% rate in January.
On the other hand, Inegi reported that the consumer price index (CPI) increased 0.44% in the month.
The statistics institute recalled that in the same month of 2022, monthly inflation was 0.62% and annual inflation was 8.7%.
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The underlying price index, considered a better parameter to measure general shortages because it eliminates items with high volatility in their prices, rose 0.36% monthly and 5.76% annually, Inegi detailed in its report.
While the non-core item increased 0.7% at a monthly rate and 0.6% year-on-year.
Within the underlying subgroup, merchandise increased 0.31% in the month and 6.2% in the year.
While services advanced 0.43% monthly and 5.23% annually.
In non-core, agricultural prices grew by 0.84% compared to the immediate previous period and 3.25% compared to the same month last year.
Energy prices and rates authorized by the Government rose 0.57% in the month, although they fell 1.71% in the year.
The price index of the minimum consumption basket, made up of 176 products and services, increased by 0.63% monthly and 4.01% annually.
The items with the greatest year-on-year increases were restaurants and hotels (8.55%), miscellaneous goods and services (7.95%), and health (6.61%).
While the generic products that rose the most in the month were lemon (33.79%), carrots (25.17%) and tomatoes (10.28%).
Consumer prices closed 2022 with an increase of 7.82%, the highest level in 22 years and the century for a year-end.
The September data is still above the Bank of Mexico’s 3% annual goalwhich maintains the interest rate at a record of 11.25%.
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