Mexico's June inflation accelerated to 4.78%, exceeding the central bank's target and potentially leading to a pause in rate cuts.
Mexico's inflation accelerated more than expected in early June, reaching 4.78% from a year earlier. This exceeded the central bank's target of 3%, plus or minus one percentage point, and may contribute to a second pause in rate cuts by Banco de Mexico. Core inflation, excluding volatile items, increased to 4.17% from 4.11%. The Mexican Peso strengthened in response to these economic updates, with the USD/MXN pair trading around 18.12915.
June 24, 2024
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