Mexico's annual inflation slows to 6.85% in March

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's annual consumer inflation came in at 6.85% in March, slowing down from the previous month, according to figures released Wednesday by national statistics agency INEGI.

The figure came lower than market expectations of a 6.9% increase, while it slowed its pace from February's 7.62% annual gain.

On a monthly basis, consumer prices rose 0.27% in March.

That figure was also lower than market estimates of a 0.31% gain, and it was a slowdown from the monthly increase of 0.56% in February.

The Bank of Mexico last week hiked its key interest rate by 25 basis points to a record high of 11.25% -- its 15th rate increase since mid-2021. In the last 10 meetings, it made a rate hike of 50 basis points six times and 75 basis points four times.