* Mexico’s national statistics institute (Inegi) has released the latest figures for the consumer price index (INPC), which showed that inflation fell 0.22% in May 2023, as compared to the previous month. This brings annual inflation to 5.84%, down from 6.25% in April. In a press conference, Mexico’s President Andrés Manuel López Obrador celebrated the fall in inflation, stating it was “very good news”. He said inflation had been brought under control thanks to the central bank (Banxico)’s raising of interest rates, and agreements the government made with producers, food retailers and distributors “to offer a basic food basket at low, fair prices”.
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