Inflation in Mexico surged during the month of March, marking two consecutive months outside of Banxico's target and reaching its highest level since October 2024.
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Inflation in Mexico surged during the month of March, marking two consecutive months outside of the target range set by the Bank of Mexico (Banxico) and reaching its highest level since October 2024, according to information released by the National Institute of Statistics and Geography (Inegi). In the third month of the year, the National Consumer Price Index (INPC) had a monthly advance of 0.86%, with prices increasing, on average, by 4.59% nationwide compared to the previous year. Thus, inflation remained outside of Banxico's target range of 3% +/- 1 percentage point for the second consecutive month, prompting analysts to predict caution on the part of the central bank, whose next meeting will be on May 7. The market already anticipated that inflation would accelerate in March. The Reuters survey indicated that consumer prices were expected to increase by 4.63%, meaning that today's data released is slightly better than expected. Last month, even with the inflation figure ...