Mexico Inflation Rate Rises Slightly in October

Consumer prices in Mexico went up 6.37 percent year-on-year in October of 2017, slightly above 6.35 percent in the previous month and missing market expectations of 6.34 percent, mostly due to seasonal factors related to September's earthquakes. Cost grew faster for energy, education and housing and utilities while it slowed down for food and non-alcoholic beverages. The central bank expects inflation to stay above the 3-4 percent target in 2017 and to converge to 3 percent by the end of 2018.

Prices went up faster for: energy (16.34 percent vs 15.26 percent in September); housing and utilities (2.65 percent vs 2.64 percent) and education (4.74 percent 4.73 percent). Meanwhile, cost slowed for food and non-alcoholic beverages (6.73 percent vs 7.05 percent).

On a monthly basis, consumer prices inched up 0.63 percent, compared to a 0.31 percent rise in September and slightly above market expectations of 0.6 percent.

The core index, which strips out some volatile food and energy prices, advanced 0.25 percent during the month and 4.77 percent year-on-year.

Mexico Inflation Rate Rises Slightly in October

INEGI |Luisa Carvalho |
11/9/2017 4:39:21 PM