emirates7 - Mexico’s annual inflation rose more sharply than anticipated in May, surpassing the upper limit of the central bank’s target range, according to official figures released on Monday.
Data from the national statistics agency INEGI showed that consumer prices climbed 4.42% year-over-year in May, up from 3.93% in April.
Core inflation, which excludes fluctuating items like food and fuel, also edged higher to 4.06%, compared to 3.93% the previous month. The Bank of Mexico aims to keep inflation at 3%, with a tolerance range of plus or minus one percentage point.
On a monthly basis, inflation came in at 0.28% for May. Prices for agricultural and livestock products rose by 3.21%, while the cost of fruits and vegetables increased by 2.8%, according to INEGI.
Data from the national statistics agency INEGI showed that consumer prices climbed 4.42% year-over-year in May, up from 3.93% in April.
Core inflation, which excludes fluctuating items like food and fuel, also edged higher to 4.06%, compared to 3.93% the previous month. The Bank of Mexico aims to keep inflation at 3%, with a tolerance range of plus or minus one percentage point.
On a monthly basis, inflation came in at 0.28% for May. Prices for agricultural and livestock products rose by 3.21%, while the cost of fruits and vegetables increased by 2.8%, according to INEGI.