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Mexican lime prices help reduce inflation

Friday, May 9, 2014

Falling lime prices in Mexico helped reduce the inflation rate in April to its lowest since October.

The price of the fruit plunged 39 percent in April from March, accounting for more than half of the monthly drop in national consumer prices and helping annual inflation slow to 3.5 percent, Mexico’s statistics agency reported.

Mexico, which supplies about 97 percent of the fruit in the U.S., saw lime prices surge after disease and heavy rains limited supply and some growers banded together to keep rates high, sparking a government probe into price fixing.

Source: Bloomberg