The National Institute of Statistics and Geography (Instituto Nacional
de Estadística y Geografía, INEGI) reported on Tuesday that Mexico’s consumer price
index (CPI) slipped 0.02 percent m-o-m in April after a 0.27 percent m-o-m gain
in March. That marked the first monthly drop in CPI since April 2020 (-1.01
percent m-o-m).
On a y-o-y basis, CPI increased 6.25 percent in April, slowing from 6.85
percent in the previous month. That represented the smallest
gain since October 2021 (+6.24 percent).
Economists had predicted a drop of 0.04 percent m-o-m
and a rise of 6.23 percent y-o-y for April.
Meanwhile, the core annual inflation cooled to 7.67 percent in April
from 8.09 percent y-o-y in the previous month. That was the lowest rate since
July 2022 (+7.65 percent). Economists had forecast the indicator to decrease to
7.70 percent y-o-y.