MEXICO CITY (Reuters) -Mexico’s annual inflation rate eased in June after rising for four straight months, though core prices continued to climb, official data showed on Wednesday.
Consumer prices in Mexico rose 4.32% in the year through June, according to national statistics agency INEGI, roughly in line with the 4.31% expected by economists in a Reuters poll and slowing from the 4.42% reported in the previous month.
Mexico’s central bank, also known as Banxico, has an inflation target of 3%, plus or minus one percentage point.
In contrast, 12-month core inflation, often seen as a better gauge of price trends because it strips out highly volatile food and energy prices, accelerated to 4.24% from 4.06% in May, hitting its highest level since April of last year.
In June alone, headline consumer prices were up 0.28%, according to INEGI, while the closely watched core index stood at 0.39%, both in line with market forecasts.
(Reporting by Aida Pelaez-Fernandez and Ricardo Figueroa; Editing by Gabriel Araujo)
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