Tuesday , March 21 2023

Inflation reached 4.9% in October


National Consumer Price Index (INPC) recorded a variation of 4.9 percent at the annual rate in October, reported on Thursday National Institute of Statistics and Geography (Inegi).

The figure for inflation is the highest starting August this year, when the index recorded a variation of 4.9 percent at the annual rate.

In addition, the figure was higher than expected in analysts surveyed by Bloomberg, which predicted price fluctuations 4.89 percent.

Since January 2017, inflation has exceeded the Bank of Mexico's target (3% +/- 1 percentage point).

Overall, the basic component of the index – which includes only the performance of consumer goods and services, the elimination of agricultural price volatility and predetermined rates, such as energy and transport – reached 3.73 percent at an annual rate.

Within this index, commodity prices increased by 0.24% and services prices by 0.39% monthly

On the other hand, non-sub-component component – which includes the prices of goods and services that are influenced by external factors such as the international climate or markets – had an annual variation of 8.50%.

In his own monthly variation, inflation increased by 0.52%, while the underlying component increased by 0.31% and the non-core component increased by 1.15%.

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