Inflation & Prices
Mexico’s Core Inflation Slows in Early January Despite Unexpected Rise in Headline Figure
- Headline inflation quickened to 4.90%, more than est. 4.78%
- Core inflation slowed to 4.78%, in line with forecasts
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Mexico’s headline inflation unexpectedly accelerated in the first two weeks of the year while a closely-watched core gauge slowed as central bankers say they will discuss an eventual start to interest rate cuts.
Consumer prices rose 4.90% compared to the same period a year earlier, up from 4.86% in late December, the national statistics institute reported Wednesday. The reading was above the median estimate of 4.78% in a Bloomberg survey. Core inflation, which cuts out volatile items such as fuel and food, slowed to 4.78% in line with economists’ median estimate.