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The
annual headline inflation rate came in at the same level
reported last month, when it had reached its highest since
December 2000, and compares to expectations of 8.75% in a
Reuters poll of economists.
Even so, consumer prices rose 0.62% in September, according to
non-seasonally adjusted figures, reinforcing bets the nation's
central bank will continue to hike the benchmark interest rate.
The Bank of Mexico last week raised its key interest rate by 75
basis points to a record 9.25%, citing the "ongoing tightening
of global financial conditions" and stating that the balance of
risks to inflation's trajectory remains biased significantly to
the upside.
Banxico, as the central bank is known, has raised rates by 525
basis points since the current hiking cycle began in June 2021
in a bid to tamp down inflation, which has blown past the bank's
target of 3% plus or minus 1 percentage point.
Amid the context of soaring consumer prices, Mexico's government
on Monday announced new measures in an anti-inflationary plan
made in agreement with food producers and retailers to keep food
affordable.
Annual core inflation, which strips out some volatile food and
energy prices, reached 8.28%, while in September alone Mexican
core inflation hit 0.67%, both slightly below market
expectations.
(Reporting by Anthony Esposito; Additional reporting by Gabriel
Araujo; Editing by Steven Grattan)
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