Mexico Consumer Prices Rise More Than Expected
- Annual inflation hit 4.78% in early May, core at 4.31%
- Banxico marked up its consumer price forecasts earlier in May
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Mexico’s annual inflation accelerated slightly more than expected during the first two weeks of May, likely fueling bets that the hawkish central bank will be slow to lower its interest rate.
Consumer prices rose 4.78% from a year prior, the national statistics institute reported on Thursday, a tad above the median forecast of 4.75% in a Bloomberg survey and also up from the 4.67% increase in the prior two-week period.