Mexico inflation rises further above target after Trump win
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Tomatoes are displayed at a vegetable stall in La Merced market, downtown Mexico City January 31, 2013. REUTERS/Tomas Bravo/File Photo
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
MEXICO CITY (Reuters) - Mexico's annual inflation rate quickened in early November to its highest in more than a year and a half, moving further past the central bank's target and supporting bets that policymakers could raise interest rates again after a deep slump in the peso.
Inflation in the 12 months through mid-November was 3.29 percent
A Reuters poll projected the rate would accelerate to 3.15 percent from 3.09 percent in early October. Mexico's central bank targets inflation of 3 percent.
The price data are the first inflation figures to be released since the surprise victory of U.S. President-elect Donald Trump on Nov. 8.
Trump's win pushed the peso to record lows and prompted the Mexican central bank to raise rates to their highest in over seven years to stop the peso depreciation fanning inflation.
The annual reading of the core price index
The core index reflects higher goods costs as the weak peso drives up import prices.
On a monthly basis, Mexican consumer prices
(Reporting by Gabriel Stargardter; Editing by Andrea Ricci)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ladder Capital (LADR) to Explore Sale - Reuters
- Airbnb, New York City settle rental law lawsuit
- Mexico's Carstens prefers prudence on hikes amid uncertainty
Create E-mail Alert Related CategoriesReuters
Related EntitiesDonald J. Trump
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!