Mexico Inflation Ticks Down in October After Rate Cut (1)

Mexico’s annual inflation slowed in line with expectations in October, just a day after the central bank delivered an 11th straight interest rate cut.

Consumer prices rose 3.57% in October compared to the same month last year, according to the national statistics institute. The reading came in line with the 3.56% median estimate of analysts surveyed by Bloomberg and down from September’s 3.76% print.

Core inflation, which excludes volatile food and fuel prices, stood at 4.28%, unchanged from the prior month. Mexico’s central bank targets inflation at 3% plus or minus one percentage point.

Banxico, as the central bank ...