Mexico's annual inflation eases to 7.8% in November

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's annual consumer inflation eased to 7.8% in November, on decline from the highest level in 22 years, according to figures released Thursday by the national statistics agency INEGI.

The figure came below the market expectation of a 7.92% gain, while it slowed down from the annual gains of 8.41% marked in October, and from 8.7% in September and August when consumer prices recorded their fastest annual pace since December 2000.

Consumer prices rose 0.58% in November, compared to the previous month.

That figure was also below the market estimate of a 0.69% gain, but it is slightly up from the monthly increase of 0.57% in October.

The Bank of Mexico on Nov. 10 raised interest rates by 75 basis points for a fourth consecutive time to lower inflation, carrying its key policy rate to 10%.

It marked the 12th upward adjustment by the central bank since June 2021.