General inflation in Mexico remained down, and in the first two weeks of November, it reached 8.14%.

General inflation in Mexico remained down, and in the first two weeks of November, it reached 8.14%.

Mexico’s general inflation remained at 8.14% during the first two weeks of November, as reported by the National Institute of Statistics and Geography (Inegi) on Thursday, November 24.

Inegi detailed that the underlying index, merchandise prices, grew 0.35 % and services prices 0.34 % at a biweekly rate.

Despite the good sign represented by the moderation in the general index, energy prices and government-authorized tariffs increased 2.53%. Products such as onions declined 13%.

The data presented this Thursday by Inegi is below the forecast of private analysts, however, it is more than five percentage points above the official target, keeping intact expectations that the Bank of Mexico (Banxico) will have to continue raising its key rate.