Mexico's consumer inflation rises 8.41% in October, eases from 22-year high

By Ovunc Kutlu

ANKARA (AA) - Mexico's annual consumer inflation rose 8.41% in October but eased from its highest level in 22 years, according to figures released Wednesday by the country’s national statistics agency, INEGI

The figure was below expectations of 8.46% but it slowed from the annual gains of 8.7% in September and August when consumer prices recorded their fastest annual pace since December 2000.

Consumer prices rose 0.57% in October, compared to the previous month.

That figure was also below estimates of 0.61% while it showed a monthly increase of 0.62% in September.

The Bank of Mexico raised interest rates by another 75 basis points on Sept. 29 for a third consecutive time to tame inflation, carrying its key policy rate to 9.25%.

It marked the 11th upward adjustment by the central bank since June 2021.