Mexico Inflation At 6-Month Low

(RTTNews) - Mexico's consumer price inflation eased more-than-expected in November to the lowest level in six months, largely due to a slowdown in the price growth of food goods, data from the National Institute of Statistics and Geography showed on Thursday.

Consumer prices climbed 7.80 percent year-on-year in November, following an 8.41 percent rise in October. Economists had forecast inflation to slow to 7.93 percent.

Further, this was the slowest inflation rate since May, when prices had grown 7.65 percent.

Meanwhile, core inflation rose to 8.51 percent in November from 8.42 percent a month ago. The expected rate was 8.59 percent.

Prices for food and non-alcoholic beverages alone grew 12.41 percent annually in November, though slower than the 14.54 percent spike in October. Costs for miscellaneous goods and services registered an increase of 10.44 percent.

On a monthly basis, consumer prices moved up 0.58 percent in November, after a 0.58 percent increase in October. Economists had forecast a 0.69 percent rise.

Prices of agricultural products fell 0.42 percent and those of energy and tariffs authorized by the government increased 2.11 percent at a monthly rate.

Core consumer prices increased 0.45 percent in November versus an expected gain of 0.52 percent.