Mexico Inflation Rises to 3.62% Mid-October

Mexico’s annual inflation rate rose to 3.62% in the first half of October, up from 3.42% in the first half of September, edging above the 3.6% forecast, according to INEGI. The two-week inflation reading climbed 0.41%, slightly higher than expected. Core inflation—excluding fuel, farm goods and other volatile items—was 3.78% year-on-year, with prices rising 0.25% over the fortnight versus a 0.18% forecast. INEGI also reported unemployment fell to 2.8% in September. Faster core prices reduce Banxico’s urgency to cut its 6.50% rate on 5 November.