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Economics
Central Banks

Mexico’s Inflation Eases After Banxico Hikes Its Key Interest Rate to a Record High

  • Core inflation at 8.39%, above analysts’ 8.32% projection
  • Early October inflation slowed to 8.53% versus 8.62% forecast
A worker packs tomatoes at the Finka Ahuehuetes SAS greenhouse and packing facility in San Juan del Rio, Queretaro state, Mexico, on Wednesday, Sept. 28, 2022. 

A worker packs tomatoes at the Finka Ahuehuetes SAS greenhouse and packing facility in San Juan del Rio, Queretaro state, Mexico, on Wednesday, Sept. 28, 2022. 

Photographer: Jeoffrey Guillemard/Bloomberg
Updated on

A key Mexican inflation metric accelerated beyond expectations in early October, keeping pressure on the central bank even as headline price increases may have peaked. 

Core inflation, which excludes volatile items like fuel, sped up to 8.39% in early October from a year prior, the national statistics institute reported Monday. The result was above the 8.29% reading in late September and outpaced the median estimate of 8.32% reported by analysts in a Bloomberg survey.