According to a report released on October 7 by the National Institute of Statistics and Geography (INEGI), Mexico’s National Consumer Price Index (NCPI) registered an annual variation of 8.7% in September, the same level as in August.
This is the 19th consecutive month inflation exceeded the target range set by Mexico’s Central Bank (3%).
Inflation seems to be reaching the peak desired by the authorities, reaching the arithmetic illusion of a possible peak.
“Headline inflation remains at 8.7%, while core inflation continues to defy the authorities, rising to 8.28%,” commented Alfredo Coutiño, director of Moody’s Analytics, on his Twitter account.