Mexico: Inflation comes in at highest level since May 2023 in July
Inflation increased to 5.6% in July, above June’s 5.0%. July’s reading was the highest inflation rate since May 2023 and well above the Central Bank’s 2.0%–4.0% target range. Looking at the details of the release, transportation prices rose at a quicker pace in July compared to the previous month, as did price pressures for housing.
The trend pointed up slightly, with annual average inflation coming in at 4.7% in July (June: 4.6%). Meanwhile, core inflation edged down to 4.0% in July from the previous month’s 4.1%.
Finally, consumer prices increased 1.05% over the previous month in July, accelerating from the 0.38% rise seen in June. July’s result was the highest reading since November 2021.