Mexico's consumer inflation slows to 4.99% in August

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's annual consumer inflation slowed down to 4.99% in August, according to figures released Thursday.

The figure showed a slowdown from a 5.57% year-on-year gain recorded in July.

On a monthly basis, consumer prices rose just 0.01% in August compared to the previous month, the National Institute of Statistics and Geography (INEGI) said in a statement.

That figure followed a significant deceleration from the monthly gain of 1.05% in July.

Monthly merchandise prices increased by 0.18%, while service prices rose by 0.27% last month.

Meanwhile, agricultural product prices fell by 2.08% on a monthly basis, according to INEGI.