Mexico: Inflation decelerates in December from November
Latest reading: Consumer prices rose 3.7% on a year-on-year basis in December, following a 3.8% increase in the prior month. The reading was below market expectations and within the Central Bank’s 2.0%–4.0% target range.
Relative to the prior month’s figures, there were reduced price pressures for housing (+3.1% on a year-on-year basis vs +3.2% in November) and transportation (+1.8% vs +2.0% in November). In contrast, there were more notable price pressures for food, beverages and tobacco (+3.6% vs +3.5% in November) and clothing, footwear and accessories (+2.9% vs +2.8% in November). Finally, the variation in education and recreation prices was the same as in the prior month (+4.0% in December and November).
Meanwhile, core consumer prices increased 4.3% in annual terms in December, following a 4.4% increase in the prior month.
Finally, consumer prices increased 0.28% in December on a month-on-month basis, following a 0.66% increase in the previous month.