Annual consumer inflation in Mexico sees slowdown in September
Date
10/13/2024 8:14:59 AM
(MENAFN) Mexico's annual consumer inflation experienced a slowdown in September, decreasing to 4.58 percent, as reported by the National Institute of Statistics and Geography (INEGI) on Wednesday. This figure was lower than market expectations of 4.62 percent and marks a notable decline from the 4.99 percent year-on-year increase recorded in August. The easing of inflation suggests some stabilization in consumer prices, which is a positive sign for the economy.
On a monthly basis, consumer prices saw a minimal rise of just 0.05 percent in September. This increase was less than the market forecast of 0.1 percent and followed a slight monthly gain of only 0.01 percent in August. The restrained monthly growth indicates that inflationary pressures may be easing, providing some relief to consumers who have been facing rising prices.
Delving deeper into the monthly breakdown, merchandise prices saw an increase of 0.21 percent, while service prices rose by a slightly higher rate of 0.35 percent. These increases reflect ongoing demand in these sectors, contributing to the overall consumer price index. However, agricultural product prices took a different trend, experiencing a decline of 1.65 percent on a monthly basis, which could impact food affordability and availability.
Overall, the latest inflation data from Mexico points to a gradual moderation in consumer price growth, which is a relief amid previous higher inflation rates. While some sectors are still experiencing price increases, the declines in agricultural prices may provide a counterbalance, highlighting the mixed dynamics of the current inflation landscape in the country.
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