Mexico Inflation Exceeds Forecast, Breaching Top of Target Range
Mexico's inflation accelerated more than expected in May, breaching the top of the target range amid a central bank easing cycle and an economic slowdown.
Annual inflation sped up to 4.42% last month, above the 4.38% median estimate of economists surveyed by Bloomberg and higher than April's 3.93% print. The core reading, which excludes volatile items such as food and fuel, rose to 4.06% from 3.93% a month prior, the national statistics agency reported on Monday. The central bank targets inflation at 3%, plus or minus one percentage point.
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