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LatinNews Daily - 10 August 2020
In brief: Mexico’s inflation continues to climb in July
* Mexico’s national statistics institute (Inegi) has released consumer price index figures for July, which show that monthly inflation was 0.66%, and the annual inflation rate was 3.62%. This is up from annual inflation rates of 3.33% in June and 2.15% in April. In July 2019, Inegi had reported 0.38% monthly inflation and an annual rate of 3.78%. July marked the second month of the so-called “new normal”in Mexico, a term the government uses to describe the gradual reopening of businesses, restaurants, hotels and other industry across most regions of the country, previously closed in a bid to contain the spread of coronavirus (Covid-19). Mexico’s inflation target set by the central bank (Banxico) is 3%.
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