Mexico Inflation Rate Picks Up in May

Mexico's annual inflation rate picked up to 4.69% in May 2024, from 4.65% in the previous month, marking the highest reading in four months.

Main upward pressure stemmed from prices of food & non-alcoholic beverages (6% vs 5.78% in April), and transportation (4.2% vs 4.01%), while prices grew at the same rate for housing & utilities (3.76% vs 3.76%).

The annual core inflation rate eased for the 16th straight month to 4.21% in May, the lowest since April 2021, down from 4.37% in the prior period.

Monthly, the CPI fell by 0.19% in April, down from a 0.2% increase in the last month.