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Business

October Inflation Rises Above Banxico Goals

Inflation rates continued to rise in the first half of October, exceeding an annualized rate of 3 percent for the first time since April 2015

The annual variation exceeds the limit set by the Bank of Mexico, photo: Pexels
By The News Whatsapp Twitter Facebook Share
1 year ago

According to the National Statistics and Geography Institute (INEGI), the National Consumer Price Index for Mexico reported inflation of 0.49 percent during the first half of October, or an annual inflation rate of  3.09 percent. That annual rate that exceeds the three percent goal set by Mexico’s central bank (Banxico).

The underlying price index — which does not include goods and services due to their price volatility — presented a bi-weekly increase of 0.17 percent, or an annual inflation rate of 3.10 percent, whereas the consumer price index recorded an increase of 1.54 percent and an annual inflation rate of 3.05 percent. The price of commodities rose 0.20 percent and services 1.13 percent.

Within the consumer price index, prices of agriculture products decreased 0.14 percent, while those of power resources and rates approved by the government increased 2.66 percent, mostly as a result of summer subsidies on electricity in many cities ending.

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