Mexico saw its consumer and producer inflation figures annually slowing down in April, according to figures released Tuesday by national statistics agency INEGI. Annual consumer inflation came in at 6.25% in April, slowing down from the previous month’s level of 6.85%. The market expectation for the figure, however, was to come in at 6.23%. On a monthly basis, consumer prices decreased 0.02% last month, following a 0.27% monthly gain in March. The market estimate for the figure was to show a monthly decline of 0.04%. Annual producer inflation showed an increase of 1.41% in April, also slowing pace from the previous month’s gain of 1.8%. On a monthly basis, producer prices increased 0.2% last month, after a 0.2% monthly gain in March. The Bank of Mexico on March 30 hiked its key interest rate by 25 basis points to a record high of 11.25% — 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.
Source: Anadolu Agency