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BCN-23
MEXICO-ECONOMY-INFLATION
Mexico inflation stands at 4.54 pct in first half of June
MEXICO CITY, June 23, 2018 (BSS/Xinhua) – Mexican consumer price inflation
stood at 4.54 percent in the first half of June year-on-year, said the
National Institute for Statistics and Geography (INEGI) Friday.
Inflation has been sustained due to the prices of electricity and gas, it
added.
According to INEGI, first 15 days of June saw general inflation rise of
0.13 percent. During this period, gas prices increased 3.18 percent, followed
by a rise of 0.75 percent on low octane gasoline and a 1.49 percent rise on
electric rates.
The consumer price index went up 0.08 percent in the first half of the
month, according to the institute.
The inflation rate continued to exceed the target of 3.0 percent set out
by the country’s central bank Banxico.
Banxico warned of risks around the inflation trajectory, highlighting the
recent depreciation of the Mexican peso. On Thursday, Banxico raised the
interest reference to 7.75 percent from 7.50 after seeing a deterioration in
the balance of risks for inflation.
The central bank said that the inflation rate would not meet its target
fast due to the recent depreciation of the peso and the tough tariffs slapped
by the United States against Mexico.
Banxico said it hopes the country’s inflation rate would be getting closer
to its target in 2019.
BSS/XINHUA/HR/1330