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Tourism and gasoline trigger inflation in Mexico to 7.72%

Tourism and gasoline trigger inflation in Mexico to 7.72%

Inflation at an annual rate of 7.72% is higher than expected by the market and is the highest since 2001. Analysts surveyed by Citibanamex and the Reuters agency previously estimated that inflation in the first half of April was 7.6%.

The increase in the Consumer Price Index was 0.16%, compared to the last fortnight of March.

Within the underlying index, the prices of merchandise rose 0.55% and those of services 0.32% fortnightly.

Easter holidays were more expensive

For its part, non-core inflation, which includes agricultural products, fuels and rates authorized by the government, fell 0.66% fortnightly, although with an annual growth of 9.38%.

The prices of agricultural products increased 0.65% fortnightly and those of energy products 1.70%, at a fortnightly rate. This is mainly due to adjustments in electricity rates within the warm season scheme in 18 cities in the country, Inegi said.

In addition, the Easter holidays were more expensive, since packaged tourist services increased 9.36% at a fortnightly rate.

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