Mexico: Inflation inches up to 17-month high in October
November 9, 2020
Consumer prices increased 0.61% over the previous month in October, which was above the 0.23% climb logged in September. October’s pick-up was mainly driven by faster growth in prices for food and non-alcoholic beverages as well as for housing and utilities.
Inflation ticked up from 4.0% in September to 4.1% in October, marking the highest reading since May 2019 and slightly overshooting Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at September’s 3.3%. For its part, core inflation remained stable at 4.0% for the third month running in October.