He Mexico’s Consumer Price Index (CPI) rose 1.05% in the monthly reading for July after increasing by 0.38% in June, according to the National Institute of Statistics and Geography (INEGI). The increase is higher than the 1.02% estimated by the market.
On an annual basis, inflation has increased to 5.57% from 4.98% previously, in line with the consensus expectation of 5.57%.
The core CPI (excluding food and energy) grew by 0.32% monthly, above the 0.22% of the previous month and the 0.29% forecast by experts. The annual rate stood at 4.05%.
Mexican peso reaction
The Mexican Peso has gained ground following the news, causing the USD/MXN to drop to 19.23 from the 19.31 area. Currently, the pair is trading above 19.26, losing marginally 0.12% on the day.
The Mexican Peso could experience volatility in the coming hours, as Banxico will publish the interest rate decision, in which it is expected to remain unchanged at 11.00%.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
