SPY•Mexico's annual inflation rate rose to 3.62% in the first half of October from 3.42% a month earlier, above economists' 3.60% forecast. Core inflation eased slightly to 3.78%, while monthly consumer prices rose 0.41%.
Annual inflation in Mexico rose to 3.62% in the first half of October, up from 3.42% a month earlier and above economists' 3.60% forecast. The rate remained within the Bank of Mexico's target range of 3%, plus or minus one percentage point. Core inflation edged down to 3.78% from 3.79% in the first half of September, but exceeded the 3.70% forecast. On a monthly basis, consumer prices rose 0.41% and core prices climbed 0.25%.
The central bank held its benchmark rate at 6.50% in September, with board members saying future rate cuts would depend on an improvement in inflation prospects.
