LatinNews Daily - 10 June 2024

*Mexico’s national statistics institute (Inegi) has released consumer price index figures for May, showing that Mexico’s annual inflation rate climbed to 4.69% in May 2024, marking the third consecutive month of annual increases, driven primarily by higher food prices. This increase, although slightly below market expectations, is up from 4.65% in April, 4.42% in March, and 4.40% in February. Despite the annual rise, the consumer price index (CPI) decreased by 0.19% in monthly terms, following monthly inflation of 0.20% in April. Core inflation, which excludes volatile items, rose by 0.17% in monthly terms and 4.21% in annual terms. Within the core index, prices for goods increased by 0.07% in monthly terms and 3.38% year-on-year, while services prices rose by 0.3% as compared to the previous month and 5.22% in yearly terms.