Unemployment and inflation in Mexico -BANXICO-

Unemployment increases to 3.6% of the population and prices in the country reaches its highest level in the last three months.

Mexico (BANXICO/TYT). – Under Lopez Obrador´s new government, in the first half of April 2019 the annual inflation rate in Mexico stood at 4.38%, surpassing the target set by the Bank of Mexico of 3%. Inflation in Mexico reached the highest level in the last three months, BANXICO explained.

The increase in prices recorded in agricultural products and some services, especially tourism, negatively pressured prices in the country.

In immediate comparison, the National Consumer Price Index (INPC) recorded a better performance than the previous fortnight with a fall of 0.03%, according to figures from the National Institute of Statistics and Geography (INEGI). The fortnightly fall is explained by the low prices of some energy sources.

The country’s economic outlook seems to be complicated, as Inegi’s National Occupation and Employment Survey (ENOE) revealed that the unemployment rate rebounded to 3.6% of the Economically Active Population (EAP) during March, after two consecutive months of decline. It is the highest since December 2016, when unemployment also represented 3.6% of the labor force.

 

The Yucatan Times
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