A survey carried out by the Reuters agency indicates that the median of the projections of 13 participants yielded a rate of 6.15% for the National Consumer Price Index (INPC), its lowest level since the first half of October 2021.
However, prices are still well above the inflation target of the Bank of Mexico (Banxico).
For core inflation -considered a better parameter to measure the trajectory of prices because it eliminates high volatility products- the estimates indicate that it would have fallen for the seventh consecutive fortnight to 7.49%, its lowest level since June 2022.
Last week, Banxico ended its monetary tightening cycle that began in June 2021, given the slowdown in inflation, although it acknowledged that the outlook remains “complicated and uncertain.”
During the last two years, the entity governed by Victoria Rodríguez, which has a permanent inflation target of 3%, increased the key interest rate by a total of 725 basis points to its current level of 11.25%.
Only in the first 15 days of May, prices would have decreased 0.19% compared to the previous fortnight, while an increase of 0.21% is expected for the core index, according to the survey.
The national statistics institute, INEGI, will disclose on Wednesday the behavior of the consumer price index during the first half of May.
With information from Reuters