Mexico Prices Rise at Fastest Pace Since January Brendan Case - Bloomberg News
go to original October 13, 2014

Mexican consumer prices rose in September at the fastest pace since January, keeping the annual inflation rate above the central bank’s target range for a third straight month.

Prices increased 0.44 percent from a month earlier, the national statistics institute said on its website last week, compared with the 0.47 percent median forecast of 24 economists surveyed by Bloomberg and the fastest in eight months. The annual inflation rate climbed to 4.22 percent, the highest since February. Banco de Mexico targets inflation of 3 percent, plus or minus one percentage point.

The central bank, led by Governor Agustin Carstens, left borrowing costs unchanged at a record-low 3 percent last month, saying the economy showed signs of picking up in the second quarter without pressuring inflation. The bank unexpectedly cut its benchmark rate half a point in June to bolster growth that has missed economists’ forecasts in seven of the past nine quarters.

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