Mexico’s consumer inflation slows down in September

by Anadolu Agency

ISTANBUL

Mexico’s consumer inflation slowed down in September both annually and monthly, according to official figures released on Monday.

Annual consumer inflation came in at 4.45% last month, a slowing pace from August’s level of 4.64%, said the national statistics agency, INEGI.

The figure came slightly lower than the market expectation of 4.47%.

On a monthly basis, consumer prices increased 0.44% in September, following a 0.55% monthly gain the month before. The market estimate for the figure was to show a monthly gain of 0.45%.

On the other hand, the producer price index showed an annual increase of 0.71% in September, accelerating its pace from the previous month’s gain of 0.1%.

On a monthly basis, however, producer prices increased 0.45% last month, decelerating from the August figure of 0.5%, according to INEGI figures.

Mexico’s central bank last month kept its key interest rate steady at the record high level of 11.25%.

The Bank of Mexico last hiked its key interest rate in March by 25 basis points, 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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