LatinNews Daily - 25 October 2023

In brief: Mexico reports slowing inflation

* Mexico’s national statistics institute (Inegi) has released consumer price index figures for the first two weeks of October, showing that inflation increased by 0.24% as compared to the previous two-week period. With this data, annual inflation in Mexico stands at 4.27%, compared to 4.45% in September, when monthly inflation stood at 0.44%. This figure is at its lowest level since March 2021 and is below market expectations. According to the report, the core price index, which excludes some highly volatile items, increased by 0.24% on a biweekly basis and by 5.54% on an annual basis. The non-core index rose by 0.25% at a biweekly rate and by 0.48% on an annual basis. According to Inegi, prices of agricultural products dropped by 1.72% as compared to the previous two weeks, while those of energy and government-authorised tariffs rose by 2.03%. Inegi attributes this rise to the conclusion of subsidy programmes for electricity rates over the summer months in 18 cities in Mexico.

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