LatinNews Daily - 10 June 2025

*Mexico’s national statistics institute (Inegi) has released the consumer price index (INPC) for May, reporting that monthly inflation stood at 0.28% in May, down from 0.33% in April. This brings the annual headline inflation rate to 4.42%, up from 3.93% in April, and above the upper end of the central bank (Banxico)’s target range of 3% +/-1. The annual figure is above the 4.38% expected by economists in a Reuters poll, and the 4.38% median estimate of economists surveyed by Bloomberg. Core inflation, which excludes volatile items like food and fuel, was 0.30% in monthly terms in May, down from 0.49% in April. In a piece posted on Fortuna y Poder, the blog of journalist Marco Antonio Mares, Gabriela Siller, the head of economic analysis at Mexican private bank Banco Base, said that given the inflation rebound, Banxico should “pause the cycle of interest rate cuts”. Last month Banxico lowered its benchmark interest rate by 50 basis points for the third time this year, bringing the rate to 8.5%.

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