Consumer Prices in Mexico Rose More Than Expected in Early November Eric Martin - Bloomberg
go to original November 22, 2013

Mexican consumer prices rose more than expected in the first half of November, deepening expectations central bankers will refrain from additional interest-rate cuts.

Prices increased 0.85 percent in the first two weeks of the month, the national statistics agency said today, compared with the 0.74 percent median forecast of 19 economists in a Bloomberg survey. Annual inflation quickened to 3.51 percent from 3.36 percent in October. The central bank targets inflation of 3 percent.

The bank this month raised its forecast for inflation next year to 3.5 percent, citing tax increases. Policy makers cut the key interest rate three times this year to a record-low 3.5 percent as growth slowed, while signaling that the Oct. 25 quarter-point reduction would be the last for the foreseeable future. That stance gained support from yesterday’s report showing the economy expanded more than forecast in the third quarter.

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