Mexico's annual consumer, producer inflation slow in June

By Ovunc Kutlu

ISTANBUL (AA) – Mexico's consumer and producer inflation figures annually slowed down in June, according to figures released Friday by national statistics agency INEGI.

Annual consumer inflation came in at 5.06% last month, slowing pace from May's level of 5.84%.

The market expectation for the figure was to come in at 5.02%.

On a monthly basis, consumer prices increased 0.1% in June, following a 0.22% monthly decline the month before. The market estimate for the figure was to show a monthly gain of 0.09%.

Producer inflation showed an annual decrease of 0.87% in June, significantly slowing its pace from the previous month's gain of 0.11%.

On a monthly basis, producer prices declined 0.31% last month, after a 0.45% monthly fall in May, according to INEGI figures.

Mexico's central bank last month kept its key interest rate steady at the record high level of 11.25%.

The Bank of Mexico last hiked its key interest rate in March by 25 basis points, its 15th rate increase since mid-2021.

In the last 10 meetings, Mexico's central bank made a rate hike of 50 basis points six times and 75 basis points four times.