Reported 5 months ago
Mexico's consumer prices rose more than expected in the first two weeks of May, with annual inflation reaching 4.78%, slightly above the forecasted 4.75%. The country's central bank, Banxico, held its interest rate steady at 11% amidst rising inflation pressures, with core inflation slowing to 4.31%. The persistence of high inflation is attributed to strong domestic consumption bolstered by remittances and cash transfer programs, particularly in light of the upcoming presidential election. Banxico's policymakers have revised their inflation forecasts upward, indicating a slow path toward reaching the 3% target by the end of 2025.
Source: YAHOO