The National Consumer Price Index (INPC) stood at 4.78% at an annual rateabove the 4.67% of the second half of April, in line with what was expected, according to figures released on Thursday by Inegi.
On the other hand, core inflation, considered a better parameter to measure the price trajectory because it eliminates highly volatile products, fell to 4.31%, its lowest level since May 2021, also in line with expectations.
In the first half of May 2024, the #inflation general annual rate was 4.78%. The National Consumer Price Index #INPC decreased 0.21% at a biweekly rate.
By component, annual inflation:
? 4.31%, Underlying
? 6.27%, Non-core? Check the statement from… pic.twitter.com/uEQHBGwuNQ
— INEGI INFORMA (@INEGI_INFORMA)
May 23, 2024
At the beginning of the month, Banco de México maintained the reference rate at 11%, after lowering it in March for the first time since it began its restrictive cycle in 2021 to face the pressures derived from the pandemic that led inflation to abandon the official goal of 3%.
Banxico Governor Victoria Rodríguez recently stated that the governing board will discuss the possibility of resuming cuts to the key rate in its next decision on June 27. However, Deputy Governor Irene Espinosa later opined that she sees no urgency in reducing it again.
Only in the first 15 days of May, prices decreased by 0.21%, while the underlying index showed a rate of 0.15%, Inegi said.
The items that suffered the most increases in the fortnight were tomatoes, serrano peppers and home ownership, while electricity, onions and domestic LP gas were the ones that fell the most.
With information from Reuters
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