Economics
Mexico’s Stubbornly Elevated Inflation Keeps Rate Hikes on Table
- Prices rose 5.88% y/y in June, versus survey estimate of 5.87%
- Central bank unexpectedly hiked rate to 4.25% in last meeting
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Mexico’s annual inflation stayed way above the central bank’s target ceiling in June, keeping in play the possibility of further key interest rate hikes in coming months.
Consumer prices increased 5.88% in June compared to a year earlier, well over the bank’s 4% target ceiling and little-changed from 5.89% in May, the national statistics institute reported Thursday. The median estimate of economists surveyed by Bloomberg was 5.87%. Prices rose 0.53% compared to a month earlier.