Mexico's Annual Inflation Reaches Lowest Level Since August 2021, Surpassing Expectations

Mexico’s annual inflation rate slowed in May for a fourth consecutive month to 5.84%, data from statistics agency INEGI showed on Thursday, beating forecasts and continuing a downward trend spurred by a long cycle of rate hikes.

Headline inflation came in below a forecast of 5.90% and is now at its lowest since August 2021.

Consumer prices fell 0.22% in May from April, according to non-seasonally adjusted figures, against an expected drop of 0.16%.

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