The Iran war drives up energy costs, Mexico's overall inflation rises slightly in March.

Golden Ten Data reported on April 9 that due to the Iran war pushing up global energy costs, Mexico's annual inflation rate accelerated in March. Data from the national statistics bureau showed that consumer prices in March rose by 4.59% year-on-year, lower than the median analyst forecast of 4.64%, but higher than February's 4.02%. Excluding volatile food and fuel prices, the core inflation rate, closely watched by the central bank, slowed to 4.45% year-on-year, below February's 4.50% and the analyst forecast median of 4.47%. In March, tomato, airfare, and prices at snack bars, restaurants, tortilla shops, and taco stands saw the largest increases, while internet, telephone, and TV packages, eggs, and pork recorded the biggest declines. As price pressures mounted, the central bank voiced concerns over economic weakness. Although the Iran war caused crude oil prices to soar and intensified inflationary pressures, the Bank of Mexico believes this conflict poses downside risks to the local economy.