Mexico’s Inflation Accelerated Ahead of Banxico Rate Meeting (2)

Mexico’s annual inflation accelerated more than expected last month, a week before policymakers are expected to deliver their last 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.

Banxico, ...