Mexico's Inflation Drops Unexpectedly In May

08/06/2013 07:43 AST

Mexico's consumer price inflation weakened in May, contrary to economists' forecast for an increase, latest data showed Friday.

Inflation as per the consumer price index dropped to 4.63 percent in May from 4.65 percent In April, statistical office INEGI said. Economists were looking for an inflation rate of 4.67 percent. Core inflation, adjusted for volatile items, was 2.88 percent during the month.

On a monthly basis, the consumer price index edged down 0.33 percent in May, after gaining 0.07 percent in the previous month. The index was forecast to record a 0.3 percent fall.

In a separate release, the statistical office said Mexico's producer price inflation weakened to 1.24 percent in May from 1.7 percent in April.

Sequentially, producer prices decreased at a slower rate of 0.06 percent than 0.25 percent a month earlier.


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