Mexico: Inflation rises in January from the prior month
Latest reading: Consumer prices rose 3.8% in annual terms in January, following a 3.7% rise in the prior month and within the Central Bank’s 2.0%–4.0% target range. Higher excise duties and tariffs in force since the start of the year buoyed inflation in January.
Relative to the previous month’s figures, price pressures were higher for food, beverages and tobacco in January (+4.4% on a year-on-year basis vs +3.6% in December). In contrast, there were reduced price pressures for housing (+2.9% vs +3.1% in December), transportation (+1.6% vs +1.8% in December) and clothing, footwear and accessories (+2.8% vs +2.9% in December). Finally, the variation in education and recreation prices was the same as in the prior month (+4.0% in January and December).
Meanwhile, core consumer prices increased 4.5% in annual terms in January, following a 4.3% increase in the prior month.
Lastly, consumer prices increased 0.38% in January in month-on-month terms, following a 0.28% increase in the previous month.