By Anadolu Agency
May 9, 2023 1:50 pmISTANBUL
Mexico saw its consumer and producer inflation figures annually slowing down in April, according to figures released Tuesday by national statistics agency INEGI.
Annual consumer inflation came in at 6.25% in April, slowing down from the previous month’s level of 6.85%.
The market expectation for the figure, however, was to come in at 6.23%.
On a monthly basis, consumer prices decreased 0.02% last month, following a 0.27% monthly gain in March. The market estimate for the figure was to show a monthly decline of 0.04%.
Annual producer inflation showed an increase of 1.41% in April, also slowing pace from the previous month’s gain of 1.8%.
On a monthly basis, producer prices increased 0.2% last month, after a 0.2% monthly gain in March.
The Bank of Mexico on March 30 hiked its key interest rate by 25 basis points to a record high of 11.25% — its 15th rate increase since mid-2021.
In the last 10 meetings, Mexico’s central bank made a rate hike of 50 basis points six times and 75 basis points four times.
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