of Mexico (March 23, 2023).- Inflation in Mexico slowed more than economists expected in early March, which is likely to increase the chances that the central bank will slow down a record monetary tightening cycle at the meeting of the next week, Bloomberg reported.
Consumer prices rose 7.12 percent in the first two weeks of the month compared to the same period last year, below 7.48 percent at the end of February, the National Institute of Statistics and Geography (Inegi) reported Thursday.
The reading was below the median estimate of economists surveyed by Bloomberg, at 7.24 percent.
Core inflation, which excludes volatile items such as fuel, was 8.15 per year, which is lower than the previous reading of 8.21 percent, and which coincides with the economists’ estimate.
The gauge has been a concern for all five members of the central bank, according to minutes from the bank’s meeting in February, where policymakers surprised markets with a higher-than-expected half-point rise.