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LatinNews Daily - 27 September 2021

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In brief: Inflation in Mexico continues to rise

* Mexico’s national statistics institute (Inegi) has released new figures which show that the country’s consumer price index (CPI) rose 0.42% in the first two weeks of September compared with the previous two weeks, pushing the annual inflation rate to 5.87%. This compares with 0.16% registered in the first two weeks of September 2020 compared with the previous two weeks and 4.92% annual inflation registered at that point. Last month Mexico’s central bank (Banxico) raised its benchmark interest rate by 25 basis points to 4.50% in response to inflationary pressures, after the country registered annual inflation of 5.81% in July, well above Banxico’s 3% +/-1 inflation target range for 2021. In an August report Banxico forecast that inflation will close this year at 5.7%, up from the 4.8% forecast in its June report.