Mexico inflation up more than expected, new rate hikes possible

mexico inflation up more than expected new rate hikes possible

Sumary of Mexico inflation up more than expected, new rate hikes possible:

  • Article content MEXICO CITY — Mexican annual inflation rose higher than market expectations during the first half of July, according to official data released on Thursday, which may trigger additional interest rate hikes as the central bank seeks to tame higher consumer prices.
  • National statistics agency INEGI reported annual inflation up to 5.75% during the first two weeks of this month, accelerating slightly from the previous two-week period.
  • Central bank board member Jonathan Heath described the latest inflation data as “definitely bad” in a post on Twitter shortly after it was released.
  • Article content A median forecast of 19 analysts had forecast inflation ticking down to 5.65% for the first two weeks of July, compared with 5.74% in the second half of June.

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