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Mexico reports a slightly elevated inflation rate for month of May

Mexico City, Mexico — Figures by the National Institute of Statistics and Geography (Inegi) show an inflation rate of 7.65 percent in May. According to numbers provided, the National Consumer Price Index grew 0.18 percent in May compared to the previous month.

This is slightly less than the 7.68 percent increase in April and above the 7.61 percent expected by the market. According to Inegi, the prices of agricultural products rose 0.78 percent, while energy and tariffs decreased 2.47 percent.

Avocados, potatoes and oranges saw the greatest price hikes, with avocados reaching more than 100 peso per kilo in some cities, an increase of more than 19 percent from the month before. On the other side, electricity, lemons and onions saw price decreases.

Inegi reported the states of Oaxaca, Durango, Yucatán, Guanajuato and Veracruz were the most affected states, while Sonora, Sinaloa, Baja California Sur, Baja California and Chihuahua saw less variation in consumer prices.