Inflation stands at 4.69% annually during May: Inegi

In May of 2024, the Annual general inflation stood at 4.69%Inegi revealed this Friday, which is below market expectations.

Monex estimated a decrease of 0.1% and an annual inflation of 4.8%. And, in fact, the INPC decreased 0.19% compared to the month of April.

The underlying price index, which is used to estimate inflation growth in the medium and long terms, increased 0.17% at a monthly rate and 4.21% at an annual rate.

Non-core inflation, for its part, decreased 1.28% monthly and registered an increase of 6.19% annually. This component of inflation contains the most volatile prices, agricultural products, energy, and rates authorized by the government.

In this way, the 21.45% drop in electricity prices – due to the summer subsidies provided by the government – was key to the drop in the INPC during May.

Products that rose the most in price

Below are the generic products whose price variations stood out for their impact on general inflation:

Upward:

Tomato, 11.09% monthly
Egg, 4.72%
Own home, 0.37%
Serrano chile, 22.49%
Low octane gasoline, 0.65%

downwards,

Electricity, -21.45% monthly
Onion. -25.14%
Domestic LP gas, 3.11%
Green tomato, 10.75%
Melon, -18.04%