LatinNews Daily - 25 May 2022

In brief: Inflation in Mexico dips but remains high

* Mexico’s national statistics institute (Inegi) has released its latest figures on the national consumer price index (INPC) which show that inflation in the first two weeks of May decreased 0.06% as compared to the previous two weeks. This brings annual inflation to 7.58%, a decrease on the 7.68% recorded at the end of April. In a statement, Inegi said that the prices of agricultural products had increased 0.47%, whereas those of energy and government-authorised tariffs had decreased 2.45%% at a biweekly rate. Jonathan Heath, the deputy governor of Mexico’s central bank (Banxico), noted that the figures represented two consecutive fortnights of decline, but warned that “headline inflation remains very high”, stating that “it is not at all clear that this is the beginning of the desired trajectory or just noise within what continues to be an upward trend”. In particular, Heath said he was concerned about rising food prices. Mexico’s President Andrés Manuel López Obrador has suspended import duties for one year on a range of basic foodstuffs as part of a wider plan to address rising inflation, which also includes boosting production of rice, corn and beans.

End of preview - This article contains approximately 194 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.