According to data released by the National Institute of Statistics and Geography (INEGI) on Wednesday, Mexico's consumer price inflation experienced a more significant decline than anticipated in September, reaching its lowest rate in six months.
The consumer price index rose by 4.58% year-on-year in September, compared to a 4.99% increase in August. Economists had predicted a reduction in inflation to 4.62%. This marks the slowest rate of inflation since March, when prices rose by 4.42%.
Additionally, core inflation also eased, decreasing to 3.91% in September from 4.0% in the previous month. The cost of food and non-alcoholic beverages increased by 4.67% annually in September, a slowdown from the 5.98% surge witnessed in August.
Transport costs rose by 4.55% year-on-year, a slight fall from the 4.65% growth seen in August, while prices for information and communication services decreased by 1.98%.
On a month-to-month basis, consumer prices saw a marginal increase of 0.1% in September, following a period of near stagnation in the previous month. Core consumer prices, however, experienced a rise of 0.28%.
