Mexico Inflation Accelerates as Banxico Reduces Easing Pace

Mexico’s annual inflation accelerated slightly more than expected last month after the central bank slowed the pace of interest rate cuts.

Consumer prices rose 3.57% in August from the same month a year earlier, according to the national statistics institute, just over the 3.56% median estimate of analysts surveyed by Bloomberg and up from July’s 3.51% reading. The closely watched core reading, which excludes volatile food and fuel prices, remained unchanged at 4.23%.