Inflation on Target in Mexico as Prices Fall

Mexican consumer prices fell in April on lower electricity rates and a drop in vacation costs after the Easter holiday period, leaving annual inflation close to the Bank of Mexico's 3% target.

The consumer-price index fell 0.26% last month for a 12-month rate of 3.06%, the National Statistics Institute, known as Inegi, said on Thursday. Core CPI, which excludes energy and fresh fruit and vegetables, rose 0.14% from March and was up 2.31% from a year before.

Residential electricity rates fell 14% as summertime subsidies designed to help cover the cost of air . . .

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