MEXICO CITY (Reuters) -Mexico’s annual inflation rate quickened in September at a pace slightly below expectations, official data showed on Thursday, and remained within the central bank’s target range of 3%, plus or minus a percentage point. Consumer prices in Latin America’s second-largest economy rose 3.76% in the year through September, according to national statistics […]
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Mexico’s annual inflation rises in September, but remains within target range
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MEXICO CITY (Reuters) -Mexico’s annual inflation rate quickened in September at a pace slightly below expectations, official data showed on Thursday, and remained within the central bank’s target range of 3%, plus or minus a percentage point.
Consumer prices in Latin America’s second-largest economy rose 3.76% in the year through September, according to national statistics agency INEGI, below the 3.79% increase forecast by economists in a Reuters poll. Consumer prices rose 3.57% in the previous month.
The inflation rate remained within the central bank’s target range for the third month in a row, bolstering expectations that policymakers would continue to cut interest rates.
Mexico’s central bank, also known as Banxico, lowered borrowing costs last month for the 10th consecutive time, with its key interest rate reaching its lowest level since 2022 at 7.5%.
Consumer prices rose 0.23% in September on a monthly basis, according to non-seasonally adjusted figures, slightly below market forecasts, while the closely watched core index, which strips out some volatile food and energy prices, increased 0.33%, compared with expectations of a 0.32% increase.
(Reporting by Aida Pelaez-Fernandez and Ricardo Fieguroa; Editing by Paul Simao)