Mexico's consumer inflation slows down in September

By Ovunc Kutlu

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

Annual consumer inflation came in at 4.45% last month, a slowing pace from August's level of 4.64%, said the national statistics agency, INEGI.

The figure came slightly lower than the market expectation of 4.47%.

On a monthly basis, consumer prices increased 0.44% in September, following a 0.55% monthly gain the month before. The market estimate for the figure was to show a monthly gain of 0.45%.

On the other hand, the producer price index showed an annual increase of 0.71% in September, accelerating its pace from the previous month's gain of 0.1%.

On a monthly basis, however, producer prices increased 0.45% last month, decelerating from the August figure of 0.5%, according to INEGI figures.

Mexico's central bank last month 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.

In the last 10 meetings, Mexico's central bank made a rate hike of 50 basis points six times and 75 basis points four times.