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Financial News: Mexico Inflation Eases More Than Forecast

Mexico Inflation Eases More Than Forecast

11/09/2022 - 08:16:00 (RTTNews)

(RTTNews) - Mexico's consumer price inflation eased more-than-expected in October, after remaining stable in the previous month, data from the National Institute of Statistics and Geography showed on Wednesday.

Consumer prices climbed 8.41 percent year-on-year in October, following an 8.70 percent rise in September. Economists had forecast inflation to slow to 8.46 percent.

Meanwhile, core inflation rose to 8.42 percent in October from 8.28 percent a month ago. The expected rate was 8.44 percent.

Prices for food and non-alcoholic beverages alone grew 14.54 percent annually in October, and those for miscellaneous goods and services registered an increase of 10.18 percent.

On a monthly basis, consumer prices moved up 0.57 percent in October, after a 0.62 percent increase in September. Economists had forecast a 0.61 percent rise.

Core consumer prices increased 0.63 percent in October versus an expected gain of 0.65 percent.

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