Mexico Inflation Rate Falls to New Record Low of 2.2%

Annual inflation rate in Mexico cooled to 2.21 percent in November of 2015, fresh record low, marking the longest period ever where the pace of consumer price gains has stayed below the central bank's 3 percent target.

Year-on-year, prices of education and recreation and culture grew the most (4.28 percent), followed by health (3.94 percent), furniture and household items (3.47 percent), clothing and footwear (2.89 percent), alcoholic beverages and tobacco (2.83 percent), food and non-alcoholic beverages (2.5 percent) and transport (2.39 percent). In contrast, communication prices fell 13.18 percent. 

On a monthly basis, consumer prices went up 0.55 percent, slightly higher than 0.51 percent in October.

The core index was nearly flat on the month and increased 2.34 percent on an annual basis. 

The inflation rate has been below the central bank’s 3 percent target since May due to sluggish growth and lower telecom and housing related prices and despite a nearly 12 percent depreciation of the peso against the USD since the beginning of the year.

Mexico Inflation Rate Falls to New Record Low of 2.2%

Joana Taborda |
12/9/2015 3:51:10 PM