Mexico Inflation Rate Hits Highest Level Since 2000
Mexico’s annual inflation rate rose to 8.70 percent in August of 2022 from 8.15 percent in the previous month, the highest reading since December of 2000 and slightly above expectations of 8.67 percent. Prices accelerated for both goods (10.55 percent vs. 10.07 percent in July), due to processed foods and beverages (12.94 percent vs. 12.09 percent), and services (5.19 percent vs. 4.90 percent), as housing costs edged higher (3.12 percent vs. 3.02 percent). At the same time, energy prices rose faster (7.25 percent vs. 4.76 percent). The core inflation rate rose to 8.05 percent, the highest since 2000, and picked up from 7.65 percent in the prior month. Monthly, consumer prices rose by 0.70 percent, above market expectations of 0.66 percent, but easing from the 0.74 percent increase in July.
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