LatinNews Daily - 10 April 2026

*Mexico’s national statistics institute (Inegi) has released the latest figures for its consumer price index (INPC), which put monthly inflation in March at 0.86% and annual inflation at 4.59%, exceeding the central bank (Banxico)’s target range of 3% (+/- 1%), and its own first-quarter forecast of 4.1%. Both rates saw increases from the previous month - monthly inflation rose from 0.50% in February and the annual rate rose from 4.02%. Core inflation, which excludes volatile items such as food and fuel, rose 0.38% in monthly terms and 4.45% year-on-year in March. This compares with a 0.46% monthly rise in February, when the annual core inflation rate stood at 4.50%. The latest inflation figures come as minutes released yesterday from Banxico’s 26 March decision to lower the benchmark interest rate by 25 basis points to 6.75%, reveal a divided board, with a majority of three to two voting to cut the rate. The two members opposing the reduction argued that the conflict in the Middle East, which has driven up global oil prices and increased financial market volatility, warranted a pause in the rate-cutting cycle until the full implications could be properly assessed.

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