Mexico’s annual inflation slowed in July to its lowest level in over six years, according to data from the statistics agency INEGI. The annual inflation rate hit 3.12% last month, down from 3.37% in June and the lowest since May 2020.
Inflation Rate
The reading matched expectations from economists in a Reuters poll and remained within the Bank of Mexico’s target range of 3%, plus or minus one percentage point. The data came after the central bank held its benchmark interest rate at 6.5%, extending a pause that began in June.
Headline inflation is expected to converge to 3% in the fourth quarter of 2027, according to the bank. Core inflation, which strips out some volatile food and energy prices, hit 3.95% in the 12 months through July.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
