ISTANBUL

Mexico's annual consumer inflation slowed down to 4.58% in September, according to figures released Wednesday.

The figure managed to come in lower than market estimates of 4.62%, while it showed a slowdown from a 4.99% year-on-year gain recorded in August.

On a monthly basis, consumer prices rose just 0.05% in September, compared to the previous month, the National Institute of Statistics and Geography (INEGI) said in a statement.

That figure also came in lower than market expectations of 0.1%, after showing a monthly gain of only 0.01% in August.

Monthly merchandise prices increased by 0.21%, while service prices rose by 0.35%.

Agricultural product prices, however, fell by 1.65% on a monthly basis.