Mexico’s annual inflation accelerated more than expected last month, a week before policymakers are expected to deliver their last interest rate cut of the year.
Consumer prices rose 3.80% in November compared to the same month last year, according to the national statistics institute. The reading came in above the 3.70% median estimate of analysts surveyed by Bloomberg and up from October’s 3.57% print.
Core inflation, which excludes volatile food and fuel prices, stood at 4.43% compared to 4.28% in October. Mexico’s central bank targets inflation at 3%, plus or minus one percentage point.
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