Mexico's consumer inflation slows down in October

By Ovunc Kutlu

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

Annual consumer inflation came in at 4.26% last month, slowing pace from September's level of 4.45%, said the national statistics agency INEGI.

The figure came slightly lower than the market expectation of 4.28%.

On a monthly basis, consumer prices increased 0.38% in October, also slowing down from a 0.44% monthly gain the month before. The market estimate for the figure was to show a monthly gain of 0.39%.

The producer price index, on the other hand, showed an annual increase of 1.35% in October, accelerating its pace from the previous month's gain of 0.71%.

On a monthly basis, producer prices increased 0.46% last month, slightly accelerating from the September figure of 0.45%, according to INEGI figures.

Mexico's central bank in September 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.