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Mexico inflation almost unchanged in June, well over cenbank target

Thursday, July 8, 2021
Mexico inflation almost unchanged in June, well over cenbank target © Reuters. FILE PHOTO: A woman is seen at the Jamaica market during last minute Christmas shopping, as the coronavirus disease (COVID-19) outbreak continues, in Mexico City, Mexico December 24, 2020. REUTERS/Gustavo Graf

MEXICO CITY (Reuters) - Mexican annual inflation was virtually unchanged in June, slowing slightly less than expected and remaining well above the central bank's target rate, official data showed on Thursday.

Annual consumer price inflation in Latin America's no. 2 economy dipped last month to 5.88% from 5.89% in May, according to figures published by national statistics agency INEGI. A rate of 5.86% had been forecast in a Reuters poll of analysts.

Compared with the previous month, prices rose in June by 0.53%, the data showed. The core price index, which strips out some volatile items, was up by 0.57% on the month.

The Mexican central bank, which targets an inflation rate of 3% with a one percentage point tolerance threshold above and below that, last month unexpectedly raised its key interest rate to 4.25% in a bid to anchor inflation expectations.

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01-05-2024 10:45:17 (UTC+7)

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 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
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 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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