The Mexican inflation has fallen by 0.32% in the first fortnight of Mayeither from -0.16% previously, showing its biggest drop since April 2020. Consensus expected a decline of 0.19%. With this result, annual headline inflation stood at 6.0%, according to INEGI. In the same fortnight of 2022, biweekly inflation was -0.06% and annual inflation was 7.58%.
He underlying price index registered an increase of 0.18% at a biweekly rate and an annual rate of 7.45%. In the same period, the non-core price index fell 1.85% fortnightly and grew 1.70% at the annual rate.
Within the underlying index, at a fortnightly rate, the prices of merchandise rose 0.17% and those of services, 0.19%.
Within the non-core index, at a fortnightly rate, the prices of agricultural products fell 0.52% and those of energy and tariffs authorized by the government, 2.99%. This was mainly due to adjustments in electricity rates for the hot season in 11 cities in the country.
USD/MXN reaction
With inflation improving, the USD/MXN has fallen from 17.87 to 17.81, its lowest level in two days. The strengthening of the Mexican Peso is leading the pair to operate at the moment above 17.82, losing 0.84% ​​daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
