The National Consumer Price Index (INPC) moderated to 3.72% at an interannual rate, after two continuous fortnights on the rise, according to data released on Tuesday by the national statistics institute, Inegi. Analysts anticipated a rate of 3.85%, according to a Reuters poll.
For its part, underlying inflation, considered a better parameter to measure the trajectory of prices because it eliminates highly volatile products, decreased to 4.34%, even so, it continued above Banco de México’s permanent objective of 3% +/- one percentage point.
Last week, the authority reduced the interbank funding rate for the thirteenth time since it began to reduce it in 2024, however, it offered signs that it could interrupt its monetary softening cycle amid the persistence of underlying inflation.
For now, investors’ attention will be focused on the release of the meeting minutes on January 8. The entity’s next decision is scheduled for February 5.
Only in the first 15 days of December, prices increased by 0.17%, while the underlying index showed a rate of 0.31%, Inegi said.
The items that suffered the most increases in the fortnight were air transport, lunch shops, inns, cake shops and taquerias and packaged tourist services, while tomatoes, eggs and chicken were the ones that decreased the most.
