MADRID (EUROPA PRESS).- Mexico’s National Consumer Price Index (INPC) fell to 4.99% year-on-year in August, almost six-tenths less than in July, after climbing sharply in that month to 5.57% year-on-year, its highest level in the last 14 months.
According to a report released on Monday by the National Institute of Statistics and Geography (INEGI), monthly inflation has resumed its downward trend, standing at 0.01%, compared to 1.05% in July.
The underlying index, for its part, fell one tenth compared to July, standing at 0.22% on a monthly basis, while it slowed slightly to 4% on an annual basis, compared to 4.05% in July.
By spending division, education has again been the group with the highest year-on-year increase, remaining at 6.09%. Other services have climbed to 6.03%. In turn, food, beverages and tobacco have reached 4.13%, compared to 4.03% in July.
In this context, it is worth remembering that Mexico’s central bank (Banxico) decided a month ago to cut interest rates by 25 basis points, to 11%, despite the fact that in August it was faced with poor inflation figures.
Looking ahead, the entity expects that the inflationary environment will allow for discussion of adjustments to the monetary policy rate.
“The actions implemented will be such that the reference rate is consistent, at all times, with the path required to promote the orderly and sustained convergence of general inflation to the 3% target within the expected time frame,” he said.
In August 2024, the #inflation The annual general index stood at 4.99%. At a monthly rate, the National Consumer Price Index #INPC increased by 0.01%.
By component, annual inflation:
?? 4.00%, Underlying
?? 8.03%, Non-core?? Check out the press release:… pic.twitter.com/VqNjq3Joo9
— INEGI INFORMS (@INEGI_INFORMA) September 9, 2024
#Inflation #Mexico #falls #August #significant #increase #previous #month
2024-09-13 00:15:39