Mexico’s inflation rate dropped below 4% in May

Mexico’s annual headline inflation rate fell to 3.94% in May, entering the Bank of Mexico’s 2-4% target range for the first time since January. Core inflation decreased to 4.19%, while services inflation remained elevated at 4.57% annually for 54 consecutive months. Prices for fruits and vegetables surged 14.38% annually, with tomatoes rising 99.23%.