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By THE PULSE NEWS MEXICO STAFF

For the third month in a row, Mexico’s inflation rate in May broke the maximum target set by the country’s Central Bank (Banxico), the National Institute of Statistics and Geography (Inegi) reported Wednesday, June 9.

In the fifth month of 2021, Mexico’s National Consumer Price Index (INPC) registered a level of 5.89 percent at an annual rate, driven by an increase in the cost of air transport, domestic gas and low- and high-octane gasoline.

According to Inegi, this percentage represented a slight slowdown in inflation compared to the comparable figure for April, when it reached 6.08 percent.

It was also Mexico’s lowest inflation rate since last March, when it registered 4.67 percent.

Notwithstanding, the May figure constituted the third consecutive month that the Banxico target of 3 percent was surpassed.