In April, Mexico experienced an increase in consumer price inflation, marking its highest point in three months according to data from the National Institute of Statistics and Geography (INEGI). The country's consumer price index increased by a year-on-year rate of 4.65 percent following a 4.42 percent increase in March, slightly above the anticipated rise of 4.63 percent.
It was observed that the rate of inflation exceeds the upper target range of 4.0 percent set by the Mexican Central Bank. Core inflation, on the other hand, decreased to 4.37 percent in April from a previous 4.55 percent, which was lower than the expected 4.40 percent.
Food and non-alcoholic beverages saw a 5.78 percent increase in prices in April, which is faster than the last month's increase of 4.96 percent. Housing and utilities costs increased by 3.76 percent from the previous year, representing an increase from 3.35 percent a month earlier.
In contrast, consumer prices only increased by a monthly rate of 0.20 percent in March, following a 0.29 percent increase in the preceding month - economists had predicted a slightly lower rise of 0.19 percent. Core inflation saw a decrease from 0.44 percent to 0.21 percent.
