The National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía, INEGI) announced that Mexico's consumer price index (CPI) rose 0.20 per cent m-o-m in April after a 0.29 per cent m-o-m uptick in the previous month. That marked the 11th straight monthly gain in CPI.
On a y-o-y basis, CPI surged 4.65 per cent in April, accelerating from March (4.42 per cent). Economists had forecast advances of 0.19 per cent m-o-m and 4.63 per cent y-o-y for April.
Meanwhile, the core annual inflation slowed to 4.37 per cent in April from 4.55 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 4.40 per cent y-o-y.
On a m-o-m basis, the core inflation increased 0.21 per cent in April, following a 0.44 per cent gain in March, below economists’ prediction for a 0.24 per cent rise.