Inflation in Mexico falls to target for first time since 2016

Bank of Mexico

Inflation in Mexico fell to the target of the Bank of Mexico in September for the first time since September 2016, official statistics released on October 9 show.

Price increased year on year by 3% last month, down from 3.16% in August, according to the official statistical agency. Above-target inflation over the last few years had forced the central bank to increase interest rates to a record-high 8.25%, despite weak growth.

Nonetheless, the strategy seems to be working. Minutes of the

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