LatinNews Daily - 24 November 2023

* Mexico’s national statistics institute (Inegi) has released consumer price index figures for the first half of November, which shows inflation was 0.63% as compared to the previous two-week period. With this result, annual inflation stands at 4.32% According to Inegi, at this time in 2022, the two-week inflation rate was 0.56%, and the annual rate was 8.14%. However, it is up from the 0.24% two-week inflation rate recorded in the first two weeks of October when annual inflation stood at 4.27%, figures which represented a slowdown on September. The core price index, which discounts volatile items in its calculation, increased by 0.20% in the first two weeks of November compared with the previous two weeks, resulting in an annual rate of 5.31%. Within the core index, at the fortnightly rate the prices of goods rose by 0.13%, and the price of services rose by 0.28%. Signs that Mexico’s inflation is again edging up come as the central bank (Banxico) opted to maintain its benchmark interest rate at 11.25% earlier this month, where it has been held since March. Minutes from that meeting noted that “despite the progress in deflation, the outlook continues to be challenging”.