MEXICO CITY, Aug. 8 (Xinhua) -- Mexico's inflation accelerated in July to 5.57 percent, hitting a 14-month high, driven by the price of several agricultural products, according to figures released Thursday by the National Institute of Statistics and Geography (INEGI).

The National Consumer Price Index (CPI) rose 1.05 percent in July from the previous month, with an 8.87 percent increase in the fruits and vegetables segment, according to a monthly report from the statistics agency.

"In the same month of 2023, monthly inflation was 0.48 percent and annual inflation was 4.79 percent," INEGI said.

The core CPI increased 0.32 percent at a monthly rate and 4.05 percent at an annual rate.

The products with the greatest monthly increase in prices included tomatoes, gas for domestic use, oranges and onions, the agency said.

Inflation in Mexico registered 4.66 percent in 2023.

The Central Bank of Mexico estimates inflation could converge with the official target rate of 3 percent in the fourth quarter of 2025. Enditem

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