MNI BRIEF: Mexican Inflation Up To 3.80% In March

Mexico's INPC annual inflation was 3.80% in March, the Mexican National Institute of Statistics and Geography said on Wednesday, announcing a figure in line with the 3.79% consensus forecast.

Core inflation was 3.64%, also in line with the 3.65% consensus. In February, the general INPC was at 3.77%.

"On a monthly basis, the non-core price index fell by 0.08%. Within this component, prices for agricultural products rose 0.41%, while energy prices and government-authorized tariffs declined 0.45%," INEGI said.

The recent progress in bringing inflation closer to the 3% target is the main reason behind the Bank of Mexico’s decision to accelerate its easing cycle, cutting rates by 50 basis points to 9.00% last month and signaling further reductions. (See MNI INTERVIEW: Banxico Limited In Ability To Respond To Trump)