Mexico's consumer price inflation accelerated to the highest level in seven months in April, but was slightly below economists' expectations, latest data showed Thursday.
Inflation as per the consumer price index climbed to 4.65 percent in April from 4.25 percent in March, statistical office INEGI said. Economists were looking for an inflation rate of 4.67 percent. The latest figure was the highest since September last year, when the index recoded a 4.77 percent annual growth.
Costs of goods advanced 3.63 percent from a year earlier in April, while service costs increased by 2.37 percent from a year earlier.
On a monthly basis, the consumer price index edged up 0.07 percent, slower than March's 0.73 percent gain. The growth rate was also below the expected 0.09 percent.
Core consumer prices, adjusted for volatile items, moved up 0.08 percent month-on-month in April, after rising 0.3 percent in the previous month. Core prices were forecast to grow 0.1 percent.
Separately, the agency said Mexico' producer price inflation eased to 1.7 percent in April from 2.02 percent in March. Output prices, meanwhile, dropped 0.25 percent compared to March, when they increased by 0.24 percent.
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