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Mexico: Annual inflation rises to 4.98% in June, its highest level in a year

He Mexico’s Consumer Price Index (CPI) rose by 4.98% annually in June from 4.69% in May, its highest level in a year, according to the National Institute of Statistics and Geography (INEGI). This is the fourth consecutive month of increases for the indicator, which disappoints market expectations, since a less significant increase was expected, to 4.84%.

The Monthly inflation has risen at a rate of 0.38% in Juneexceeding the previous -0.19% and the +0.24% forecast.

He Core CPIwhich excludes food and energy, has increased by 0.22% monthlyabove the previous 0.17% and below the expected 0.24%. The Annual rate has stood at 4.13%below the 4.21% seen in May.

On the other hand, Mexico has published its consumer confidence data. The indicator has improved 48.1 points in June from 46.7 in May, its best record since July 2019.

Mexican peso reaction

The Mexican Peso has barely moved since the release, trading at USD/MXN at the time of writing at around 18.02, gaining 0.09% on the day.

Source: Fx Street

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