Mexico's consumer inflation rises in November

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's consumer inflation increased in November both annually and monthly, according to official figures released Thursday.

Annual consumer inflation came in at 4.32% last month, rising from October's level of 4.26%, said the national statistics agency INEGI.

The figure, nevertheless, came slightly lower than the market expectation of 4.4%.

On a monthly basis, consumer prices increased 0.64% in November, also gaining pace from a 0.38% monthly increase in October. The market estimate for the figure was to show a monthly gain of 0.72%.

The producer price index, on the other hand, annually rose 1.22% in November, slowing down from the previous month's annual gain of 1.4%.

On a monthly basis, producer prices decreased 0.38% in November, after a 0.5% increase in October, according to INEGI figures.

Mexico's central bank on Nov. 9 kept its key interest rate steady at the record high level of 11.25%.

The Bank of Mexico last hiked its key interest rate in March by 25 basis points, its 15th rate increase since mid-2021.