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Mexico March Inflation Below Forecast, Output Prices Rise

Mexico's consumer prices increased less than economists expected in March, data released by statistical office INEGI showed Monday.

The consumer price index increased 3.73 percent on an annual basis in March, slower than the 4 percent growth seen in February. Economists expected inflation to be 3.76 percent.

Prices of food, beverages and tobacco climbed 6.8 percent annually, while clothing and footwear prices advanced 3.6 percent. There was a 1.55 percent annual growth in housing costs, and a 4.85 percent rise in transportation costs.

On a monthly basis, consumer prices edged up 0.06 percent in March, following the previous month's 0.19 percent gain. Economists were looking for a 0.08 percent monthly rise in prices.

At the same time, core inflation rose 3.31 percent year-on-year in March. Compared to February, core consumer prices moved up0.24 percent, slower than the 0.27 percent growth economists forecast.

Separately, the agency said Mexico's producer prices increased 0.28 percent month-on-month in March, taking the annual growth to 5.57 percent.

by RTTNews Staff Writer

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