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LatinNews Daily - 25 November 2021

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In brief: Inflation surges in Mexico

* Mexico’s national statistics institute (Inegi) has released new figures which show that the country’s consumer price index (CPI) rose 0.69% in the first two weeks of November compared with the previous two weeks, pushing the annual inflation rate to 7.05%. Inegi director Julio Santaella tweeted that this was the highest since April 2001. Earlier this month Mexico’s central bank (Banxico) raised its benchmark interest rate by 25 basis points to 5.00%, following increases of the same amount in September, August and June. Banxico said in a report that the decision was taken in response to inflationary pressures, after Mexico registered annual inflation of 6.24% in October, well above Banxico’s 3% +/-1 inflation target range for 2021.