Mexico's Inflation Rate Remains Close to a Decade High.
London, Wednesday, 09 November 2022
The annual inflation rate in Mexico decreased to 8.41% in October 2022 from 8.70% in September, but it remained very near the highest level in almost 22 years and much beyond the central bank's goal range of 2%–4.0%. The reading fell little shy of market expectations of 8.46%.
Food and non-alcoholic drinks saw a slight decrease in price (14.54% vs. 14.55% in September), as did furniture and home equipment (8.80% vs. 9.10%), leisure and culture (5.54% vs. 5.73%), and housing and utilities (1.75% vs. 3.60%).
Other CPI items including transportation (7.86% vs 7.53%), alcoholic drinks & tobacco (9.52% vs 9.03%), restaurants & hotels (12.26% vs 11.49%), miscellaneous goods & services (10.18% vs 9.94%), clothing & footwear (6.03% vs 5.79%), and clothing & footwear all saw price increases.
The annual core inflation rate increased from 8.28% in the previous month to 8.42%, the highest level since late 2000. Consumer prices increased by 0.57% on a monthly basis in October, which was less than expected (0.61%) and the lowest increase in five months.
(Report by: The Decision Maker – Finance editors)
(Picture by: Prensa Latina)