Analysts anticipated a rate of 4.69%, according to a Reuters poll.
In turn, core inflation, considered a better parameter to measure the price trajectory because it eliminates highly volatile products, was at 3.58%, its lowest level since May 2020.
Last week, Banco de México decreased its rate benchmark at 25 basis points for the third consecutive meeting, highlighting progress in reducing core inflation, stating that it is possible that there will be additional future adjustments to the cost of credit.
The governor of the Mexican central bank, Victoria Rodríguez, reiterated in an interview with Reuters this week that the monetary authority could continue lowering interest rates from its current 10.25%, given the advance of disinflation.
The next decision from Banco de México is scheduled for December 19 and will be the last of the year.
In the first 15 days of November alone, prices increased by 0.37%, while the underlying index showed a rate of 0.04%, Inegi said.
The biggest increases
The products that registered the highest biweekly percentage variation were:
- Electricity: 22.27%
- Papaya: 15.83%
- Onion: 14.88%
- Professional services: 8.13%
- Air transport: 7.21%
Those who fell the most
The products that had the greatest decreases were:
- Pumpkin: -14.17%
- Lemon: -11.48%
- Cinema: -7.29%
- Avocado: -5.14%
- Carrot: -4.88%
In the first half of November 2024, the #inflation general annual rate was 4.56%. The National Consumer Price Index #INPC increased 0.37% at a biweekly rate.
By component, annual inflation was the following:
▪️ 3.58%, Underlying
▪️ 7.64%, Non-core— INEGI INFORMA (@INEGI_INFORMA)
November 22, 2024
With information from Reuters
