Economics
Mexico Inflation Slows Less Than Expected on Core Price Woes
- Two-year interest rate swaps rose after price data release
- Banxico faces elevated inflation, economy likely in recession
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Mexico’s annual inflation slowed slightly less than expected in early January and remained far above target, leaving the central bank in a tight spot amid indications the economy is in recession.
Consumer prices rose 7.13% from a year earlier, compared to the 7.12% median estimate of economists surveyed by Bloomberg and 7.26% in the last two weeks of December, the national statistics institute reported on Monday.