The National Consumer Price Index (INPC) was 3.57% At an annual rate, above 3.51% in July, according to figures released on Tuesday by the National Statistics Institute, INEGI.
The indicator was in line with what economic analysts expected in a reuters survey.
The underlying inflation, considered a better parameter to measure the price trajectory because it eliminates high volatility products, was 4.23%, without changes compared to the previous month.
For its part, the non -underlying price index, which includes the most volatile products and rates set by the Government, decreased 0.47% monthly and scored an annual advance of 1.38%.
Among the products that most influenced the rebound of inflation:
– Own housing (+0.27% monthly),
– Lancherías and taquerías (0.63%),
– Chile Serrano (34.94%),
– Green tomato (16.71%),
– Universities (1.34%) and
– beef (0.67%).
AND those who most affected down:
– The chicken (-4.62%),
– The tomato (-11.46%),
– Air transport (-9.76%),
– The cinema (-11%) and
– Avocado (-7.36%).
“The August consumer price index does not prevent Bank of Mexico from complying with its prognosis and apply another 25 PB cut, to 7.5%, on its next September 25 notice,” said the capital firm Economics in an analysis note.
The Central Bank, which has a permanent inflation objective of 3% +/– a percentage point, moderated in August the dimension of its latest cuts to the interbank reference rate, with a decrease in a quarter percentage quarter.
According to the minute of the meeting, the Governing Board would consider Additional reductions forward, despite some concerns about the persistence of underlying inflation.
A CITI survey showed last week that the market is widely discounting a new decrease of 25 bp in this month’s decision.
With Reuters information
