Economy & Business - August 2024

MEXICO | Inflation continues to rise. On 8 August, Mexico’s national statistics institute (Inegi) reported that the consumer price index (INPC) increased by 1.05% in July compared to the previous month. This brings the annual inflation rate to 5.57%, up from 4.98% in June, when inflation increased by 0.38% in monthly terms. This marks the fifth consecutive month of annual increases. The same day, Mexico’s central bank (Banxico) announced it was lowering its benchmark interest rate by 25 basis points to 10.75%.