Inflation in Mexico reported, once again, an acceleration during the first half of April, according to information released by Inegi.

Consumer inflation in Mexico reported, once again, an acceleration in its level in the first half of April, according to information released by the National Institute of Statistics and Geography (Inegi).

The National Consumer Price Index (INPC) reported a biweekly variation of 0.09% in the first half of the month, while on an annual basis, it reached 4.63 percent.

The annual figure represented an acceleration from the rate of 4.42% reported in the last half of March.

Thus, inflation would continue to resist returning to the target of the Bank of Mexico (Banxico), of 3% +/-1 percentage point.

Banxico stated that the work against inflation is not yet finished, so the Bank would be attentive to the evolution of inflation, where it pointed out that services have not shown any respite.

The INPC showed that services continue to be the major pressure on general inflation, and they somewhat maintain the level of core inflation, which removes from its calculation the products and services with more volatile prices.

In the first half of April, the core index increased by 4.39% annually.

This was explained by the fact that goods increased their price by 4.39% annually, while services increased by 5.21 percent.

In the case of non-core inflation, in the first half of April, it stood at 5.38% annually.

This was explained by an increase of 6.98% in agricultural products. Meanwhile, energy and government-approved tariffs presented an inflation rate of 4.01 percent.